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Please answer question (e) At the beginning of the current period, Wildhorse Co. had balances in Accounts Receivable of $190,400 and in Allowance for Doubtful
Please answer question (e)
At the beginning of the current period, Wildhorse Co. had balances in Accounts Receivable of $190,400 and in Allowance for Doubtful Accounts of $9,040 (credit). During the period, it had credit sales of $839,100 and collections of $760,090. It wrote off as uncollectible accounts receivable of $6,576. However, a $3,350 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $26,900 at the end of the period. (Omit cost of goods sold entries.) (a)(d) Your answer is correct. No. Account Titles and Explanation Debit Credit (a) Accounts Receivable 839100 Sales Revenue (To record sales) 760090 (To record collection) (b) Allowance for Doubtful Accounts 8576 6576 (c) Accounts Receivable Allowance for Daubtful Accounts (To reinstate account previously written off) Cish Accounts Receivable (To record collection) (d) Bad Debt Expense Alowance for Daubtful Accounts Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts. Ending balance in Accounts Receivable Ending balance in Allowance for Doubtful Accounts
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