View Policies

Current Attempt in Progress

Assume the following information for Metlock Corp.

Accounts receivable $($beginning balance$)$

$$154,000$

Allowance for doubtful accounts $($beginning balance$),11,360$

Net credit sales

$936,000$

Collections

$917,000$

Write$-$offs of accounts receivable

$6,300$

Collections of accounts previously written off

$1,900$

Uncollectible accounts are expected to be $7\%$ of the ending balance in accounts receivable.

$($a$)$

Prepare the entries to record sales and collections during the period. $($List all debit entries before credit entries. 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 $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit

$($To record sales on account$)$

$($To record collection of accounts receivable$)$