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At the beginning of the current period, Swifty Corporation had balances in Accounts Receivable of $168,000 and in Allowance for Doubtful Accounts of $7,560. During
At the beginning of the current period, Swifty Corporation had balances in Accounts Receivable of $168,000 and in Allowance for Doubtful Accounts of $7,560. During the period, it had net credit sales of $672,000 and collections of $640,920. It wrote off as uncollectible accounts receivable of $6,132. Uncollectible accounts are estimated to total $21,000 at the end of the period. (Omit recording cost of goods sold.)
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