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pls qith step?formual and the answer format same as the picture 10.00 points Wilcox Mills is a manufacturer that makes all sales on 30-day credit
pls qith step?formual and the answer format same as the picture
10.00 points Wilcox Mills is a manufacturer that makes all sales on 30-day credit terms. Annual sales are approximately $30 million. At the end of 2012, accounts receivable were presented in the company's statement of financial position as follows Accounts receivable from dlients Less: Allowance for Impairment $ 3,100,000 80,000 During 2013, $170,000 of specific accounts receivable were written off as uncollectible. Of these accounts written off receivables totaling $19,000 were subsequently collected. At the end of 2013, an aging of accounts receivable indicated a need for a $231,000 allowance to cover possible failure to collect the accounts currently outstanding Wilcox Mills makes adjusting entries for uncollectible accounts only at year-end 1One entry to summarize all accounts written off against the Allowance for Impairment during 2013 Entries to record the $19,000 in accounts receivable that were subsequently collected 3The adjusting entry required at December 31, 2013, to increase the Allowance for Impairment to $231,000 a Prepare the above general journal entries: (Omit the "$ sign in your response.) Date 2013 General JournalDebit Credit 3100 C) 80000 Var (Click to select) (Click to select) war." | (Click to select) (Click to select) Dec 31 (Click to select) Accounts payable Step by Step Solution
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