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Please answer Questions B D E F. 1 A company has a beginning balance in accounts receivable of $103,575 and an ending balance of $128,415.
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B D E F. 1 A company has a beginning balance in accounts receivable of $103,575 and an ending balance of $128,415. 2 Credit sales during the period were $885,630. 3 Determine cash collections. 4 5 Beginning Balance $103,575 6 Ending Balance $128,415 7 Credit Sales $885,630 8 Cash Collections 9 10 Use the spreadsheet functionality to perform your calculation (i.e., don't just enter the answer, but a formula) 11 12 13 Assume this company uses the Percentage of Accounts Receivable method to calculate bad debt. 14 The current balance in Allowance for Doubtful Accounts is a normal balance of $7,000 15 Management estimates that 10% of ending Accounts Receivable will be uncollected. 16 Complete the entries below 17 18 Beginning ADA 19 Adjustment to ADA 20 Ending ADA 21 22 Assume, instead, that this company uses the Percentage of Sales method to calculate bad debt. 23 The current balance in Allowance for Doubtful Accounts is a normal balance of $7,000 24 Management estimates that 1.5% of credit sales will be uncollected. 25 Complete the entries below 26 27 Beginning ADA 28 Adjustment to ADA 29 Ending ADAStep by Step Solution
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