Exercise 6-8 At the beginning of the current period, Swifty Corporation had balances in Accounts Receivable of $195,100 and in Allowance for Doubtful Accounts of $9,350. During the period, it had net credit sales of $745,500 and collections of $835,120. It wrote off as uncollectible accounts receivable of $7,831. Uncollectible accounts are estimated to total $24,100 at the end of the period. (Omit recording cost of goods sold.) 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. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Assets = Liabilities + Allow. For + Accts. Rec. - Doubtful Accts = + Common Stock + Stockholders' Equity Retained Earnings - Exp. Cash Rev. Beg. Bal. LINK TO TEXT LINK TO VIDEO Determine 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 A Ending balance in Allowance for Doubtful Accounts A What is the net realizable value of the receivables at the end of the period? The net realizable value of the receivables at the end of the period