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At the beginning of the current period, Oriole Corp. had balances in Accounts Receivable of $ 294,000 and in Allowance for Doubtful Accounts of $
At the beginning of the current period, Oriole Corp. had balances in Accounts Receivable of $ 294,000 and in Allowance for Doubtful Accounts of $ 8,200 (credit). During the period, it had net credit sales of $ 810,000 and collections of $ 769,500. It wrote off as uncollectible accounts receivable of $6,400. However, a $3,800 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $ 25,700 at the end of the period. (Omit cost of goods sold entries.) (a-d) 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. Prepare the entries to record the recovery of the uncollectible account during the period. (c) (d) Prepare the entry to record bad debt expense for the period. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (a) ) Accounts Receivable 810000 Sales Revenue (To record sales) Accounts Receivable Accounts Receivable (To record cash collected during the period) (b) Bad Debt Expense Accounts Receivable NA IN DONO DI II (c) (To reinstate account previously written off) Bad Debt Expense Bad Debt Expense (To record the recovery of the uncollectible account during the period) (d) Bad Debt Expense Allowance for Doubtful Accounts
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