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Problem 6-6 (Part Level Submission) At December 31, 2016, Bridgeport Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts
Problem 6-6 (Part Level Submission) At December 31, 2016, Bridgeport Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $656,700 39,470 During 2017, the company had the following transactions related to receivables. 1. 2. 3. 4. Sales on account Sales returns and allowances Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible $2,993,700 57,000 2,556,700 42,560 (a) Prepare a tabular summary that includes the following accounts: Cash, Accounts Receivable, Allowance for Doubtful Accounts, Revenue, and Expense. Enter the January 1, 2017, balances in Accounts Receivable and Allowance for Doubtful Accounts. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Assets = Liabilities + Stockholders' Equity Allow. For Retained Earnings - Doubtful Accts. = + Common Stock + Rev. - Exp. Cash + Accts. Rec. Beg. Bal. $ $ Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT Attempts: 0 of 5 used
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