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Question3 At the beginning of the current period, Sunland Company had balances in Accounts Receivable of $201,700 and in Allowance for Doubtful Accounts of $9,590
Question3 At the beginning of the current period, Sunland Company had balances in Accounts Receivable of $201,700 and in Allowance for Doubtful Accounts of $9,590 (credit). During the period, it had net credit sales of $875,700 and collections of $796,820. It wrote off as uncollectible accounts receivable of $7,410. Uncollectible accounts are estimated to total $25,830 at the end of the period. (Omit recording cost of goods sold.) Enter the beginning balances for AccounsReeivable and Allowance for Doubtful Accounts in a tabular summary. Use the summary to record transactions (a), (b), and (c) below. (a) (b) (c) Record sales and collections during the period. Record the write-off of uncollectible accounts during the period Record bad debt expense for the period (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Assets -Liabilities + Stockholders' Equity Allow. For Retained Earnings Cash +Accts. Rec. Doubtful Accts +Common Stock+ Rev Beg. Bal Sales revenue Bad debt expense
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