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Problem 8-3A At the beginning of the current period, Sunland Co. had a balance of $92,000 in Accounts Receivable and a $6,440 credit balance in
Problem 8-3A At the beginning of the current period, Sunland Co. had a balance of $92,000 in Accounts Receivable and a $6,440 credit balance in Allowance for Doubtful Accounts. In the period, it had net credit sales of $368,000 and collections of $332,580. It wrote off accounts receivable of $11,600 as uncollectible. After a $2,580 account was written off as uncollectible, it was subsequently collected. This is in addition to the other cash collections. Based on an aging schedule, uncollectible accounts are estimated to be $8,500 at the end of the period. Record sales and collections in the period. (Credit account titles are automatically indented when the 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.) Account Titles and Explanation Debit Credit (To record sale of merchandise on account) (To record collection) SHOW LIST OF ACCOUNTS LTNK TO TEXT LTNK TO TEXT LTNK TO TEXT Record the write off of ur collectible a courts in the penod. Credit account titles are autorna cd Entry" for the account titles and enter o for the amounts.) y no ented when the di punts entere Do not m ent manui 1 no entry s required seed Acoount Titles and Explanation Debit Credit To record write off of account receivable)
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