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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
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.
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