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At the beginning of the current period, Wildhorse Co. had balances in Accounts Receivable of $228,000 and in Allowance for Doubtful Accounts of $10,260.
At the beginning of the current period, Wildhorse Co. had balances in Accounts Receivable of $228,000 and in Allowance for Doubtful Accounts of $10,260. During the period, it had net credit sales of $912.000 and collections of $869,820. It wrote off as uncollectible accounts receivable of $8,322. Uncollectible accounts are estimated to total $28,500 at the end of the period. (Omit recording cost of goods sold.) (a-c) Your answer is correct. 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.
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