Business, 16.04.2020 02:31 grimwolf1023
At the beginning of the current period, Sheffield Corp. had balances in Accounts Receivable of $187,800 and in Allowance for Doubtful Accounts of $9,630 (credit). During the period, it had credit sales of $860,400 and collections of $687,720. It wrote off as uncollectible accounts receivable of $7,381. However, a $2,859 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $23,070 at the end of the period. (Omit cost of goods sold entries.) Collapse question part (a - d) (a) Prepare the entries to record sales and collections during the period. (b) Prepare the entry to record the write-off of uncollectible accounts during the period. (c) Prepare the entries to record the recovery of the uncollectible account during the period. (d) Prepare the entry to record bad debt expense for the period.
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At the beginning of the current period, Sheffield Corp. had balances in Accounts Receivable of $187,...
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