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Current Attempt in Progress Assume the following information for Larkspur Corp. Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) Net credit sales Collections
Current Attempt in Progress Assume the following information for Larkspur Corp. Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) Net credit sales Collections Write-offs of accounts receivable Collections of accounts previously written off $160,000 11,400 934,000 920,000 6,500 2,300 Uncollectible accounts are expected to be 7% of the ending balance in accounts receivable. (a) Prepare the entries to record sales and collections during the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record sales on account) (To record collection of accounts receivable)
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