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Cullumber Company reported the following information in its general ledger at December 31. All sales were on account. At the end of the year, uncollectible
Cullumber Company reported the following information in its general ledger at December 31. All sales were on account. At the end of the year, uncollectible accounts were estimated to be 10% of accounts receivable. (a) Using your knowledge of receivables transactions, determine the missing amounts. Ignore any inventory,cost of goods sold, and refund liabilities for the purposes of this question. (Hint: You may find it helpful to reconstruct the journal entries.) Accounts Receivable 15,600 Beg. bal. 36,500 (a) (b) End. bal. (c) Sale 46,500 Allowance for Doubtful Accounts Beg. bal 1,112 600 (d) End. bal. (e) Using your knowledge of receivables transactions, determine the missing amounts. Ignore any inventory, cost of goods sold, and refund liabilities for the purposes of this question. (Hint: You may find it helpful to reconstruct the journal entries.) Accounts Receivable 15,600 Beg bal. 36,500 (a) (b) End. bal. (c) Sale 46,500 Allowance for Doubtful Accounts Beg. bal 1,112 600 (d) End. bal. (e) Bad Debt Expense (d) Save for Later Attempts: 0 of 2 used Submit
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