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Wilton Corporation reported the following selected information in its general ledger at December 31: All sales were on account. Some accounts receivable were collected. One
Wilton Corporation reported the following selected information in its general ledger at December 31: All sales were on account. Some accounts receivable were collected. One account was written off; there were no subsequent recoveries. At the end of the year, uncollectible accounts were estimated to total $2,000. Using your knowledge of receivables transactions, determine the missing amounts. (Hint: You may not be able to solve the below items in alphabetical order. In addition, you may find it helpful to reconstruct the journal entries.) Accounts Receivable Beg bal. 18,000 55.000 (a) 58,000 (b) 1000 End. bal. (c) 20,000 Allowance for Doubtful Accounts Beg. bal. 1,800 1,000 Unadj. bal. 800 (d) 800 End. bal. (e) 1200 Sales 78,000 Bad Debts Expense (f) 1100
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