Assume the following information for Kingbird Corp. Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning...

 

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Assume the following information for Kingbird 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 Uncollectible accounts are expected to be 9% of the ending balance in accounts receivable. (To record sales on account) $161,000 11,500 934,000 Prepare the entries to record sales and collections during the period. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts) Account Titles and Explanation (To record collection of accounts receivable) 907,000 5,700 1,700 Debit Credit Prepare the entry to record the write-off of uncollectible accounts during the period. (List debit entry before credit entry. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Prepare the entries to record the recovery of the uncollectible account during the period. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation (To reverse write-off of accounts receivable) (To record collection of accounts receivable) Ending balance in Accounts Receivable Determine the ending balance in Accounts Receivable and the unadjusted balance in Allowance for Doubtful Accounts. Unadjusted balance in Allowance for Doubtful Accounts Debit Account Titles and Explanation $ tA Prepare the entry to record bad debt expense for the period. (List debit entry before credit entry. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Debit Determine the ending (adjusted) balance in Allowance for Doubtful Accounts. Ending (adjusted) balance in Allowance for Doubtful Accounts Credit LA Credit Assume the following information for Kingbird 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 Uncollectible accounts are expected to be 9% of the ending balance in accounts receivable. (To record sales on account) $161,000 11,500 934,000 Prepare the entries to record sales and collections during the period. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts) Account Titles and Explanation (To record collection of accounts receivable) 907,000 5,700 1,700 Debit Credit Prepare the entry to record the write-off of uncollectible accounts during the period. (List debit entry before credit entry. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Prepare the entries to record the recovery of the uncollectible account during the period. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation (To reverse write-off of accounts receivable) (To record collection of accounts receivable) Ending balance in Accounts Receivable Determine the ending balance in Accounts Receivable and the unadjusted balance in Allowance for Doubtful Accounts. Unadjusted balance in Allowance for Doubtful Accounts Debit Account Titles and Explanation $ tA Prepare the entry to record bad debt expense for the period. (List debit entry before credit entry. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Debit Determine the ending (adjusted) balance in Allowance for Doubtful Accounts. Ending (adjusted) balance in Allowance for Doubtful Accounts Credit LA Credit