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Please help with part E!! will give you good rating Problem 8-2A (Part Level Submission) At the beginning of the current periad, Foress Enterprises Ltd.
Please help with part E!! will give you good rating
Problem 8-2A (Part Level Submission) At the beginning of the current periad, Foress Enterprises Ltd. had balances in Accounts Receivable of $2,117,000 and in Allowancefor Doubtful Accounts of $148,000 (credit). During the period, Foress had credit sales of $4,289,000 with cost of goods sold of 3,092,000 and collections of $5,196,000 It wrote off190,000 of accounts n ce vable. However, a $26,000 account written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimat to total $89,000 at the end of the period. (a) [v] Your answer is correct. Prepare the entries to record sales and collections during the period. (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 ti and enter O for the amounts.) Account Titles and Explanation Accounts Receivable Debit Credit 4289000 Sales To record sales) Cost of Goods Sold 4289000 3092000 309200D (To record cost of sales sold) Cash 5196000 5196000 To record collections) SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT LINK TO TEXT LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Attempts: 2 of 2 used You have surpassed the number of attempts earn Maximum Points for this question. For t attempt, and any subsequent attempt(s), you will earn points according to the Point Potenti policy set by your instructorStep by Step Solution
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