Exercise 8-04 Assume the following information for Sage Hill Corp. Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) Net credit sales Collections Write-offs of accounts receivable Collections of accounts previously written off $162,000 11,450 930,000 904,000 5,700 1,900 Uncollectible accounts are expected to be 7% of the ending balance in accounts receivable. Prepare the entries to record sales and collections during the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record sales on account) (To record collection of accounts receivable) SHOW LIST OF ACCOUNT NEXT Prepare the entry to record the write-off of uncollectible accounts during the period. (Credit account tities are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the entries to record the recovery of the uncollectible account during the period. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To reverse write-off of accounts receivable) (To record collection of accounts receivable) MacBook CALCULATOR PRINTER VERSION Determine the ending balance in Accounts Receivable and the unadjusted balance in Allowance for Doubtful Accounts. BACK NEXT Ending balance in Accounts Receivable Unadjusted balance in Allowance for Doubtful Accounts SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the entry to record bad debt expense for the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT Determine the ending (adjusted) balance in Allowance for Doubtful Accounts. Ending (adjusted) balance in Allowance for Doubtful Accounts MacBook