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Problem 8-2A (Part Level Submission) At December 31, 2016, Shamrock, Inc. Imports reported this information on its balance sheet. Accounts receivable $548,100 Less: Allowance for
Problem 8-2A (Part Level Submission) At December 31, 2016, Shamrock, Inc. Imports reported this information on its balance sheet. Accounts receivable $548,100 Less: Allowance for doubtful accounts 38,810 During 2017, the company had the following transactions related to receivables. 1 2 3. Sales on account Sales returns and allowances Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible Recovery of bad debts previously written off as uncollectible $2,851,100 53,298 2,581,800 44,210 13,620 5. (a) Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount indent manually.) entered. Do not No. Account Titles and Explanation Debit Credit 1 Accounts Receivable Sales Revenue 3. 4. 5. (To reinstate account previously written off) Click if you would like to Show Work for this question: Open Show Work
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