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The Accounts Receivable balance and Allowance for Bad Debts for Winter Retreats at December 31, 2017, was $10,800 and $2,000 (credit balance), respectively. During 2018,
The Accounts Receivable balance and Allowance for Bad Debts for Winter Retreats at December 31, 2017, was $10,800 and $2,000 (credit balance), respectively. During 2018, Winter Retreats completed the following transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize Winter Retreats's transactions for 2018 assuming Winter Retreats uses the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) a. Sales revenue on account, $287,300 (ignore Cost of Goods Sold). More Info Accounts and Explanation Debit Credit . a. Sales revenue on account, $287,300 (ignore Cost of Goods Sold) b. Collections on account, $225,000. c. Write-offs of uncollectibles, $6,400. d. Bad debts expense of $5,900 was recorded. b. Collections on account, $225,000. Print Done Credit Accounts and Explanation Debit b. Requirements 1. Journalize Winter Retreats's transactions for 2018 assuming Winter Retreats uses the allowance method c. Write-offs of uncollectibles. $6.400. 2. Post the transactions to the Accounts Receivable, Allowance for Bad Debts, and Bad Debts Expense T-accounts, and determine the ending balance of each account. Accounts and Explanation Debit Credit 3. Show how accounts receivable would be reported on the balance sheet at December 31, 2018. C. Print Done Requirement 2. Post the transactions to the Accounts Receivable, Allowance for Bad Debts, and Bad Debts Expense T-accounts and determine the ending balance of each account Enter the beginning balances and the journal entries, and then compute the unadjusted balance for the Accounts Receivable account. Accounts Receivable Now enter the beginning balances and the journal entries, and then compute the unadjusted balance for the Allowance for Bad Debts account Allowance for Bad Debts Next enter the journal entries and then compute the unadjusted balance for the Bad Debts Expense account. Bad Debts Expense Requirement 3. Show how accounts receivable would be reported on the balance sheet at December 31, 2018. Balance Sheet (Partial): Current Assets
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