Business, 17.06.2020 04:57 michaelhal414

Assume the following information for Teal Mountain Corp. Accounts receivable (beginning balance) $143,000
Allowance for doubtful accounts (beginning balance) 11,340
Net credit sales 930,000 Collections 912,000
Write-offs of accounts receivable 6,400
Collections of accounts previously written off 2,200
Uncollectible accounts are expected to be 6% of the ending balance in accounts receivable.
1. Prepare the entries to record sales and collections during the period.
2. Prepare the entries to record the recovery of the uncollectible account during the period.
3. Determine the ending balance in Accounts Receivable and the unadjusted balance in Allowance for Doubtful Account.
4. Prepare the entry to record bad debt expense for the period.
5. Determine the ending (adjusted) balance in Allowance for Doubtful Accounts.

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Assume the following information for Teal Mountain Corp. Accounts receivable (beginning balance) $1...

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