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i need help with the debt and credit of this . At December 31, 2021. Blue Spruce Corp.reported this information on its balance sheet $554,000
i need help with the debt and credit of this .
At December 31, 2021. Blue Spruce Corp.reported this information on its balance sheet $554,000 Accounts receivable Less: Allowance for doubtful accounts 35.000 During 2022. the company had the following transactions related to receivables. 1. Sales on account $2,537.000 2. Sales returns and allowances 51,000 3. Collections of accounts receivable 2.219.000 4. Write-offs of accounts receivable deemed uncollectible 44.000 5. Recovery of accounts previously written off as uncollectible 13,000 Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. (Omit cost of goods sold entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) No Account Titles and Explanation Debit Credit 1. Accounts Receivable Sales 2 Sales Returns Allow Accounts Rece 3. cos Account ReV Allowance for the Account Allowance for Doubtful Accounts Accounts Receivable 5. Accounts Receivable Allowance for Doubtful Accounts To reverse account previously written ott Cool Account Reclub Step by Step Solution
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