Ch 8 Homework Assignment Question 4 of 4 < > 2.33/7 View Policies Show Attempt History Current Attempt in Progress At the beginning of the current period, Cullumber Co. had a balance of $95,000 in Accounts Receivable and a $6,650 credit balance in Allowance for Doubtful Accounts. In the period, it had net credit sales of $380,000 and collections of $343,425. It wrote off accounts receivable of $9,500 as uncollectible. After a $1,425 account was written off as uncollectible, it was subsequently collected. This is in addition to the other cash collections. Based on an aging schedule, uncollectible accounts are estimated to be $7,500 at the end of the period. (a) Your answer is correct. Question 4 of 4 < > (a) Your answer is correct. 2.33/7 E Record sales and collections in the period. Ignore any inventory, cost of goods sold, and refund liability for the purposes of this question. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Accounts Receivable Debit 380000 Credit Sales (To record sales on account.) Cash Accounts Receivable 343425 380000 343425 Question 4 of 4 (b) Your answer is correct. 2.33/7 E Record the write off of uncollectible accounts in the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Allowance for Doubtful Accounts Accounts Receivable (To record writeoff of accounts receivable.) Debit 9500 Credit 9500 (c) Record the collection of the account previously written off as uncollectible. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation (To reverse write off.) (To record collection of previously written-off account.) Debit Credit 13