Question

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CALCULATOR PRINTER VERSION BACK NEXT Problem 8-1A (Part Level Submission) At December 31, 2018, Bramble Corp. reported the following information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $972.000 82,000 During 2019, the company had the following transactions related to receivables. 1. Sales on account 2. Sales returns and allowances 3. Collections of accounts receivable 4. Write-offs of accounts receivable deemed uncollectible 5. Recovery of bad debts previously written off as uncollectible $3,715,300 46,000 2,899,000 91,000 30,000 (a) Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No Account Titles and Explanation Debit Credit (To reverse account previously written off.) (To record the collection of accounts receivable.)

Answer 1

credit Transaction Debit $3, 115,300 1 &3, 115,300 General Journal Accounts Receivable Sales sales Returns and Allowance Accounts Receivable $ 46,000 2. $46,000 $2,859,000 3 .1 Cash $ 2,859,000 1. & 91,000 $ 91,000 & 30,000 5. Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable Accounts Receivable Allowance for Doubtful Accounts Cash Accounts Receivable (To record the collection of accounts $ 30,000 $ 30,000 $ 30,000 receivable