At the beginning of the current period, Novak Ltd. had balances in Accounts Receivable of 299,000 and in Allowance for Doubtful Accounts of 9,500 (credit). During the period, it had net credit sales of 840,000 and collections of 798,000. It wrote off as uncollectible accounts receivable of 6,300. However, a 3,700 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total 24,200 at the end of the period. (Omit cost of goods sold entries.) Your answer is partially correct. (a) Prepare the entries to record sales and collections during the period. (b) Prepare the entry to record the write-off of uncollectible accounts during the period. (c) Prepare the entries to record the recovery of the uncollectible account during the period. (d) Prepare the entry to record bad debt expense for the period. No. Account Titles and Explanation Debit (a) Accounts Receivable Sales Revenue (To record sales) Cash Accounts Receivable (To record cash collected during the period) (b) Allowance for Doubtful Accounts Accounts Receivable (c) Accounts Receivable Allowance for Doubtful Accounts (To reinstate account previously written off) Cash Accounts Receivable (To record the recovery of the uncollectible account during the period) (d) Bad Debt Expense Allowance for Doubtful Accounts 8,40,000.00 7,98,000.00 6,300.00 3,700.00 3,700.00 6,300.00 Credit 8,40,000.00 7,98,000.00 6,300.00 3,700.00 3,700.00 6,300.00 * Your answer is incorrect. What is the net realizable value of the receivables at the end of the period? The net realizable value of the receivables at the end of the period 3,10,500