Question
Presented below is information for Marigold Company. 1. Beginning-of-the-year Accounts Receivable balance was $54,500. 2. Net sales (all on account) for the year were $678,300.
Presented below is information for Marigold Company. 1. Beginning-of-the-year Accounts Receivable balance was $54,500. 2. Net sales (all on account) for the year were $678,300. Marigold does not offer cash discounts. 3. Collections on accounts receivable during the year were $647,200. (a) Prepare (summary) journal entries to record the items noted above. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount 2. enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount 3. enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above.
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