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please help with this 35243633/cf/6/3961/4/2/12/4/4/2/6/6@0:100 E9-3 On February 28, Big White Ski Equipment had a $25,500 debit balance in Accounts Receivable. During March, the company
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35243633/cf/6/3961/4/2/12/4/4/2/6/6@0:100 E9-3 On February 28, Big White Ski Equipment had a $25,500 debit balance in Accounts Receivable. During March, the company had sales of $65,500, which included $60,000 in credit sales. March collections were $53,000, and write-offs of uncollectible receivables totalled $1,250. Other data include: a. February 28 credit balance in Allowance for Doubtful Accounts is $1,300. b. Bad debt expense is estimated as 3 percent of credit sales. Required 1. Prepare journal entries to record sales, collections, write-offs of uncollectibles during March, and bad debt expense by the allowance method (using the percent-of-sales method). Use March 31 as the journal date. Explanations are not required. 2. Prepare T-accounts to show the ending balances in Accounts Receivable and Allowance for Doubtful Accounts, Compute net Accounts Receivable at March 31. How much does Big White expect to collect? W o di 0 ENG 0 4:31 PM 2020-06-05Step by Step Solution
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