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Sandhill Company reported the following information in its general ledger at December 31 All sales were on account. At the end of the year, uncollectible
Sandhill Company reported the following information in its general ledger at December 31 All sales were on account. At the end of the year, uncollectible accounts were estimated to be 12% of accounts receivable. Using your knowledge of receivables transactions, determine the missing amounts. Ignore any inventory.cost of goods sold and refund liabilities for the purposes of this question. (Hint: You may find it helpful to reconstruct the journal entries.) Accounts Receivable Beg bal 16,400 37.200 (a) (b) End bal. (c) Sale 47.000 110 ENE Allowance for Doubtful Accounts Beg. bal 1,003 600 (d) d) End balle Bad Debt Expense (d) eTextbook and Media List of Accounts Prepare the summary journal entries for Sandhill Company. (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 for the amounts.) Account Titles and Explanation Debit Credit (To record sales on account for the year) (To record write off of accounts receivable) Question 5 of 6 - /20 (To record estimate of uncollectible accounts.) e Textbook and Media List of Accounts What is the amount of cash collected Cash collected $ Tu vartoti o c o 21 43F ENG 13:11 141012
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