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transactions: (Click the icon to view the transactions.) Read the requirements. explanations from any journal entries.) a. Let's start by entering the journal entry for
transactions: (Click the icon to view the transactions.) Read the requirements. explanations from any journal entries.) a. Let's start by entering the journal entry for the sales of $170,000 which included $135,000 in credit sales and $35,000 of cash sales. Ignore cost of goods sold. More info a. Sales of $170,000, which included $135,000 in credit sales and $35,000 of cash sales. Ignore cost of goods sold. b. Cash collections on account, $77,000. c. Write-offs of uncollectible receivables, $1,500. d. Bad debt expense, estimated as 3% of credit sales. Requirements 1. Prepare journal entries to record sales (ignore cost of goods sold), collections, write-offs of uncollectibles, and bad debt expense using the percent of sales method. 2. Calculate the ending balances in Accounts receivable, Allowance for uncollectible accounts, and net accounts receivable at January 31, 2018. How much does TS's Auto Repair expect to collect
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