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Current Attempt in Progress At the beginning of the current period, Coronado Industries had balances in Accounts Receivable of $204,000 and in Allowance for Doubtful
Current Attempt in Progress At the beginning of the current period, Coronado Industries had balances in Accounts Receivable of $204,000 and in Allowance for Doubtful Accounts of $9.180. During the period, it had net credit sales of $816,000 and collections of $778,260. It wrote off as uncollectible accounts receivable of $7,446. Uncollectible accounts are estimated to total $25,500 at the end of the period. (Omit recording cost of goods sold.) (a - c) - Your answer is partially 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.\fRetained Earnings + Common Stock Rev. Exp 194,820.00 $ 816,000.00 Sales revenue -23,766.00 Bad debt expenseDetermine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Ending balance in Accounts Receivable $ Ending balance in Allowance for Doubtful Accounts $
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