Question $2$ of $2$

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Current Attempt in Progress

At the beginning of the current period, Accustart Corporation had balances in Accounts Receivable of $$188,000$ and in Allowance for Expected Credit Losses of $$8,600($credit$).$ During the period, Accustart had credit sales of $$752,000$ and collections on account of $$717,500.$ Accustart expects a return rate of $5\%.$ Accustart uses a perpetual inventory system and determined that the cost of goods sold during the period was $$629,800.$ Accustart wrote off as uncollectible, accounts receivable of $$7,000.$ However, a $$3,100$ account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $$23,500$ at the end of the period.

$($a$)$

Prepare the entries to record sales, cost of goods sold, and collections during the period. $($List all debit entries before credit entries. 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.$)$

Account Titles and Explanation

Debit

Credit