Question
Problem 8-2A (Part Level Submission) At the beginning of the current period, Azim Enterprises Ltd. had balances in Accounts Receivable of $1,596,000 and in Allowance
Problem 8-2A (Part Level Submission) At the beginning of the current period, Azim Enterprises Ltd. had balances in Accounts Receivable of $1,596,000 and in Allowance for Doubtful Accounts of $87,600 (credit). During the period, Azim had credit sales of $3,772,000 and collections of $4,109,000. It wrote off $123,000 of accounts receivable. However, an $7,200 account written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $70,700 at the end of the period. Collapse question part (a) Prepare the entries to record sales and collections during the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
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