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Show Attempt History Current Attempt in Progress At the beginning of the current period, Vaughn Manufacturing had balances in Accounts Receivable of $216,000 and in
Show Attempt History Current Attempt in Progress At the beginning of the current period, Vaughn Manufacturing had balances in Accounts Receivable of $216,000 and in Allowance for Doubtful Accounts of $9,720. During the period, it had net credit sales of $864,000 and collections of $824,040. It wrote off as uncollectible accounts receivable of $7,884. Uncollectible accounts are estimated to total $27,000 at the end of the period. (Omit recording cost of goods sold.) (a-c) Enter the beginning balances for Accounts Receivable and Allowance for Doubtful Accounts in a tabular summary. Use the summary to record transactions (a), (b), and (c) below. (a) Record sales and collections during the period. (b) Record the write-off of uncollectible accounts during the period. (c) 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 Liabilitie Allow. For Cash Accts. Rec. Doubtful Accts Beg. Bal. $ $ 216,000 $ (a) 864,000 -824.040 (b) -7884 (c) e Textbook and Media Save for Later Last saved 21 seconds ago. Attempts: 0 of 3 used Submit Answer Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes
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