Problem 8-2A (Part Level Submission)

At the beginning of the current period, Ceradyne Enterprises Ltd. had balances in Accounts Receivable of $2,121,000 and in Allowance for Doubtful Accounts of $141,000 (credit). During the period, Ceradyne had credit sales of $4,275,000 with cost of goods sold of $3,102,000 and collections of $5,194,000. It wrote off $184,000 of accounts receivable. However, a $26,000 account written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $89,000 at the end of the period.

(a)

Prepare the entries to record sales and collections during the period.(Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)