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Current Attempt in Progress The December 31, 2024, balance sheet of the Ivanhoe Discount Supply Company had Accounts Receivable of $650,000 and a credit
Current Attempt in Progress The December 31, 2024, balance sheet of the Ivanhoe Discount Supply Company had Accounts Receivable of $650,000 and a credit balance in Allowance for Doubtful Accounts of $33,000. During 2025, the following transactions occurred: sales on account $1,642,000: sales returns and allowances, $133,000; collections from customers, $1,349,000; accounts written off, $35,000; previously written off accounts of $9,000 were collected. (a) Journalize the 2025 transactions. Omit cost of goods sold entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record credit sales)
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