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please hurry up Susan Smart, the manager of Kitchen Supplies, reports the debit balance in accounts receivable is $315,000 and the credit balance in the
please hurry up
Susan Smart, the manager of Kitchen Supplies, reports the debit balance in accounts receivable is $315,000 and the credit balance in the allowance for doubtful accounts is $34,500. During 2020 the following occurred. Kitchen Supplies uses a perpetual inventory system. May 31 year end. January 30 Sales for January totaled $35,000 and cost of sales is $15,000. All sales are credit sales. February 8 Aging of accounts receivable indicated the balance for allowance for doubtful accounts should be $40,000. March 1 A few customers indicate they will not be able to pay. The total amount owed by these customers is $15,000. Management authorizes the write-off of these accounts. March 15 Crafts Plus, one of the customers whose account was wrote off on March 1 paid the amount owed of $3,000. Required
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