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Assume the following information for Halloween Corp.
Accounts receivable (beginning balance)
$143,000
Allowance for doubtful accounts (beginning balance)
11,470
Net credit sales
950,000
Collections
902,000
Write-offs of accounts receivable
5,500
Collections of accounts previously written off
2,300
Uncollectible accounts are expected to be 9% of the ending
balance in accounts receivable.
a) Prepare the entries to record sales and collections during
the period, a separate entry to record the write-off of
uncollectible accounts during the period, and another separate
entry...
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Assume the following information for Teal Mountain Corp. Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) Net credit sales Collections Write-offs of accounts receivable Collections of accounts previously written off $159,000 11,470 944,000 906,000 5,400 2,000 Uncollectible accounts are expected to be 8% of the ending balance in accounts receivable. Prepare the entries to record sales and collections during the period. (Credit account titles are automatically indented whe amount is entered. Do not indent manually.) Account Titles and...
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Assume the following information for Marin Corp. Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) Net credit sales Collections Write-offs of accounts receivable Collections of accounts previously written off $162,000 11,410 934,000 911,000 6,300 1,600 Uncollectible accounts are expected to be 6% of the ending balance in accounts receivable. Prepare the entries to record sales and collections during the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and...
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Exercise 8-04 Assume the following information for Sage Hill Corp. Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) Net credit sales Collections Write-offs of accounts receivable Collections of accounts previously written off $162,000 11,450 930,000 904,000 5,700 1,900 Uncollectible accounts are expected to be 7% of the ending balance in accounts receivable. Prepare the entries to record sales and collections during the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)...
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Exercise 3-04 Assume the following information for Larkspur Corp Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) Net credit sales Collections Write-offs of accounts receivable Collections of accounts previously written off $145,000 11,480 964,000 901,000 6,300 2,200 Uncollectible accounts are expected to be 9% of the ending balance in accounts receivable. Prepare the entries to record sales and collections during the period. (Credit account titles are a Account Titles and Explanation Debit Credit (To record sales on account)...
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Assume the following information for Windsor Corp. Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) Net credit sales Collections Write-offs of accounts receivable Collections of accounts previously written off $139,000 11,450 940,000 917,000 5,600 1,600 Uncollectible accounts are expected to be 9% of the ending balance in accounts receivable. Prepare the entries to record sales and collections during the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and...
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Assume the following information for Marin Corp.
Accounts receivable (beginning balance)
$135,000
Allowance for doubtful accounts (beginning balance)
11,390
Net credit sales
940,000
Collections
902,000
Write-offs of accounts receivable
5,900
Collections of accounts previously written off
2,200
Uncollectible accounts are expected to be 6% of the ending balance
in accounts receivable.
Prepare the entries to record sales and collections during the
period. (Credit account titles are automatically
indented when the amount is entered. Do not indent
manually.)
Account Titles and...
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Assume the following information for Skysong Corp. $151,000 Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) 11,370 Net credit sales 932,000 918,000 Collections Write-offs of accounts receivable 5,600 Collections of accounts previously written off 2,100 Uncollectible accounts are expected to be 7% of the ending balance in accounts receivable. Prepare the entries to record sales and collections during the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Account Titles and...
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Assume the following information for Kingbird Corp.
Accounts receivable (beginning balance)
$161,000
Allowance for doubtful accounts (beginning balance)
11,500
Net credit sales
934,000
Collections
907,000
Write-offs of accounts receivable
5,700
Collections of accounts previously written off
1,700
Uncollectible accounts are expected to be 9% of the ending balance
in accounts receivable.
Prepare the entries to record sales and collections during the
period. (Credit account titles are automatically
indented when the amount is entered. Do not indent
manually.)
Account Titles and...
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Assume the following information for Larkspur Corp.
Accounts receivable (beginning
balance)
$160,000
Allowance for doubtful accounts
(beginning balance)
11,400
Net credit sales
934,000
Collections
920,000
Write-offs of accounts
receivable
6,500
Collections of accounts previously
written off
2,300
Uncollectible accounts are expected to be 7% of the ending balance
in accounts receivable.
Determine the ending balance in Accounts Receivable and the
unadjusted balance in Allowance for Doubtful Accounts.
Ending balance in Accounts Receivable
$enter a dollar amount
Unadjusted balance in Allowance...
Assume the following information for Teal Mountain Corp. Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) Net credit sales Collections Write-offs of accounts receivable Collections of accounts previously written off $159,000 11,470 944,000 906,000 5,400 2,000 Uncollectible accounts are expected to be 8% of the ending balance in accounts receivable. Prepare the entries to record sales and collections during the period. (Credit account titles are automatically indented whe amount is entered. Do not indent manually.) Account Titles and...
Assume the following information for Marin Corp. Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) Net credit sales Collections Write-offs of accounts receivable Collections of accounts previously written off $162,000 11,410 934,000 911,000 6,300 1,600 Uncollectible accounts are expected to be 6% of the ending balance in accounts receivable. Prepare the entries to record sales and collections during the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and...
Exercise 8-04 Assume the following information for Sage Hill Corp. Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) Net credit sales Collections Write-offs of accounts receivable Collections of accounts previously written off $162,000 11,450 930,000 904,000 5,700 1,900 Uncollectible accounts are expected to be 7% of the ending balance in accounts receivable. Prepare the entries to record sales and collections during the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)...
Exercise 3-04 Assume the following information for Larkspur Corp Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) Net credit sales Collections Write-offs of accounts receivable Collections of accounts previously written off $145,000 11,480 964,000 901,000 6,300 2,200 Uncollectible accounts are expected to be 9% of the ending balance in accounts receivable. Prepare the entries to record sales and collections during the period. (Credit account titles are a Account Titles and Explanation Debit Credit (To record sales on account)...
Assume the following information for Windsor Corp. Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) Net credit sales Collections Write-offs of accounts receivable Collections of accounts previously written off $139,000 11,450 940,000 917,000 5,600 1,600 Uncollectible accounts are expected to be 9% of the ending balance in accounts receivable. Prepare the entries to record sales and collections during the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and...
Assume the following information for Marin Corp.
Accounts receivable (beginning balance)
$135,000
Allowance for doubtful accounts (beginning balance)
11,390
Net credit sales
940,000
Collections
902,000
Write-offs of accounts receivable
5,900
Collections of accounts previously written off
2,200
Uncollectible accounts are expected to be 6% of the ending balance
in accounts receivable.
Prepare the entries to record sales and collections during the
period. (Credit account titles are automatically
indented when the amount is entered. Do not indent
manually.)
Account Titles and...
Assume the following information for Skysong Corp. $151,000 Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) 11,370 Net credit sales 932,000 918,000 Collections Write-offs of accounts receivable 5,600 Collections of accounts previously written off 2,100 Uncollectible accounts are expected to be 7% of the ending balance in accounts receivable. Prepare the entries to record sales and collections during the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Account Titles and...
Assume the following information for Kingbird Corp.
Accounts receivable (beginning balance)
$161,000
Allowance for doubtful accounts (beginning balance)
11,500
Net credit sales
934,000
Collections
907,000
Write-offs of accounts receivable
5,700
Collections of accounts previously written off
1,700
Uncollectible accounts are expected to be 9% of the ending balance
in accounts receivable.
Prepare the entries to record sales and collections during the
period. (Credit account titles are automatically
indented when the amount is entered. Do not indent
manually.)
Account Titles and...