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At the beginning of the current period, Whispering Winds Corp. had balances in Accounts Receivable of $260,000 and in Allowance for Doubtful Accounts of $11,700.
At the beginning of the current period, Whispering Winds Corp. had balances in Accounts Receivable of $260,000 and in Allowance for Doubtful Accounts of $11,700. During the period, it had net credit sales of $1,040,000 and collections of $991,900. It wrote off as uncollectible accounts receivable of $9,490. Uncollectible accounts are estimated to total $32,500 at the end of the period. (Omit recording cost of goods sold.) (ac) Enter the beginning balances for Accounts Receivable and Allowance for Doubtful Accounts in a tabular summary. Use the summary to record transactions (a), (b), and (c) below. (a) Record sales and collections during the period. (b) Record the write-off of uncollectible accounts during the period. (c) Record bad debt expense for the period. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) eTextbook and Media Attempts: 0 of 3 used (Enter negative amounts using either a negative sign preceding the number e.g. - 45 or parentheses e.g. (45).)
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