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Hello, please help me to solve part e Assume the following information for Shamrock Corp. Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance)
Hello, please help me to solve part e
Assume the following information for Shamrock 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 $159,000 11,470 938,000 904,000 6,500 2,000 Uncollectible accounts are expected to be 9% of the ending balance in accounts receivable. (a) Your answer is correct. 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.) Debit Credit Account Titles and Explanation Accounts Receivable 938.000 938,000 Sales Revenue (To record sales on account) Cash 904.000 904.000 Accounts Receivable (To record collection of accounts receivable) Attempts: 1 of 2 used (b) Your answer is correct. Prepare the entry to record the write-off of uncollectible accounts during the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit Account Titles and Explanation Allowance for Doubtful Accounts 6500 Accounts Receivable 6500 Attempts: 1 of 2 used (c) 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) Save for Later Attempts: 0 of 2 used Submit Answer (d) The parts of this question must be completed in order. This part will be available when you complete the part above. (d) Your answer is correct. Determine the ending balance in Accounts Receivable and the unadjusted balance in Allowance for Doubtful Accounts. Ending balance in Accounts Receivable $ 186,500 $ $ Unadjusted balance in Allowance for Doubtful Accounts 6.970 Attempts: 1 of 2 used (e) 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 Save for Later Attempts: 0 of 2 used Submit Answer (f) The parts of this question must be completed in order. This part will be available when you complete the part aboveStep by Step Solution
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