Exercise 6-8 At the beginning of the current period, Waterway Industries had balances in Accounts Receivable of $190,800 and in Allowance for Doubtful Accounts of $9,670. During the period, it had net credit sales of $730,800 and collections of $749,620. It wrote off as uncollectible accounts receivable of $7,511. Uncollectible accounts are estimated to total $23,000 at the end of the period. (Omit recording cost of goods sold.) Your answer is partially correct. Try again. 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 - Doubtful Accts = Stockholders' Equity Retained Earnings Exp. Cash + Accts. Rec. + Common Stock + Rev. * $ 190800 9670 181130 730800 Sales revenue T T 730800 (749620) 749620 (7511) 511 (17502) 17502 Bad debt expense