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Sheridan Company reported the following information in its general ledger at December 31. All sales were on account. At the end of the year, uncollectible
Sheridan 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.
(a)
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.)
RU 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. 16,4001 35,700 (a) (b) End. bal. (c) Sale 46,600 Allowance for Doubtful Accounts Beg. bal. 1,099 700 (d) End. bal. (e) Bad Debt Expense (d)Step by Step Solution
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