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Question 3 --/10 View Policies Current Attempt in Progress Assume the following information for Skysong Corp. Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning
Question 3 --/10 View Policies Current Attempt in Progress Assume the following information for Skysong Corp. Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) Net credit sales Collections Write-offs of accounts receivable Collections of accounts previously written off $140,000 11,420 932,000 913,000 6,000 2.100 Uncollectible accounts are expected to be 9% of the ending balance in accounts receivable. Part 1 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.) (Credit account Account Titles and Explanation Debit Credit 4 (To record sales on account) (To record collection of accounts receivable) e Textbook and Media List of Accounts Save for Later Attempts: 0 of 15 used Submit Answer Part 2 Part 2 Prepare the entry to record the write-off of uncollectible accounts during the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Account Titles and Ex planation Debit Credit eTextbook and Media List of Accounts Save for Later Attempts: 0 of 15 used Submit Answer Part 3 Prepare the entries to record the recovery of the uncollectible account during the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit (Treverse write-off of accounts receivable) (To record collection of accounts receivable) e Textbook and Media List of Accounts Save for Attempts of 15 used Submit Part 4 Determine the ending balance in Accounts Receivable and the unadjusted balance in Allowance for Doubtful Accounts. Ending balance in Accounts Receivable Unadjusted balance in Allowance for Doubtful Accounts $ e Textbook and Media List of Accounts Sive for Later Attempts: 0 of 15 used Submit Answer Part 5 Prepare the entry to record bad debt expense for the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Save for Later Attempts: 0 of 15 used Submit Answer Part 6 Determine the ending (adjusted) balance in Allowance for Doubtful Accounts Ending ladjusted) balance in Allowance for Doubtful Accounts S e Textbook and Media List of Accounts Sove for Later Attempts: 0 of 15 used Submit
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