part c

Caria Vista Equipment Sales Company, which sells only on account, had a $120,000 balance in its Accounts Receivatie and a $5.300 balance in its Allowance for Expected Credit Losses on December 31, 2023. During 2024, the company's sales of equipment were $824,000, and its total cash collections from customers were $793,000 During vear, the company identified custorners with accounts totalling $7,900 that would be unable to pay and wrota these receivables off. However, one of these customers subsequently made a payment of $840. (Note that this amount is not included in the Cash collections noted above ) At the end of 2024 , management grouped its receivables based on credit riak and estimated the expected rate of credit losses for each group. Based on this, maragement determined that the total expected credit tosses wowid be $6.480. (a) Your answer is correct. Prepare the journal entries to record all of the 2024 transactions, including the acjintinent for credit losses at year end, /Ceedit account titles and enter o for the amounts, List all debit entries before credit entries.) Prepare the joumal entries to record all of the 2024 transactions, including the adjustrent for credit losses at year end. Cretut account titles are outomatically indented when amount is entered, Do not indent manually, If so entiry is requirnd, select "No Entry" for the occount titles and enter o for the amounts. Ust all debit entries before credit entries.) Nocounts Receivitile (To record cash collected from customers) Accounts Recoivide (To write off accounts receivable) Accounts Reccivable Nowance for Eyccted Ciedit tooses (To reinstate an account that were previoushy written off) Con Nocounts Recelvabie (To record recovery of account that were previously written off) 3.33/5: Show how the accounts rectivable section of the statement of financial position at December 31.2024 , would be preserted What amount of credit losses would appear on the statement of incone for the year ended Decenber 31,2024 ? List of Accounts Attempts: 0 of 2 used