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Sunland Company reported the following information in its general ledger at December 31. All sales were on account. At the end of the year, uncollectible
Sunland 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 11% 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.) Beg. bal. (a) End. bal. (c) (d) Accounts Receivable 16,900 Sale 36,800 (b) Allowance for Doubtful Accounts 46,100 Beg. bal. 1,051 600 (d) End. bal. (e) Bad Debt Expense Prepare the summary journal entries for Sunland 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 O for the amounts.) Account Titles and Explanation (To record sales on account for the year.) (To record write off of accounts receivable.) (To record estimate of uncollectible accounts.) Debit Credit What is the amount of cash collected? Cash collected $
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