At the beginning of the current period, Coronado Industries had balances in Accounts Recelvable of $211,000...

 

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At the beginning of the current period, Coronado Industries had balances in Accounts Recelvable of $211,000 and in Allowance for Doubtful Accounts of $8,910. During the period, it had net credit sales of $777,300 and collections of $764,980. It wrote off as uncollectible accounts receivable of $8,009. Uncollectible accounts are estimated to total $23,630 at the end of the perlod. (Omit recording cost of goods sold.) Enter the beginning balances for Accounts Recelivable and Allowance for Doubtful Accounts in a tabular summary. Use the summary to record transactions (a), (b), and (c) below. (a) Record sales and collections during the perlod. (b) Record the write-off of uncollectible accounts during the perlod. (c) Record bad debt expense for the period. (Enter negative amounts using elther a negative sign preceding the number e.g. 45 or parentheses e.g. (45).) Assets Liabilities + Stockholders' Equity Allow. For Retained Earnings Doubtful Common Stock Cash Accts. Rec. Rev. Exp. Accts Beg. Bal. (a) (b) (c) Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts. (Enter negative amounts using eithera negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Ending balance in Accounts Receivable Ending balance in Allowance for Doubtful Accounts At the beginning of the current period, Coronado Industries had balances in Accounts Recelvable of $211,000 and in Allowance for Doubtful Accounts of $8,910. During the period, it had net credit sales of $777,300 and collections of $764,980. It wrote off as uncollectible accounts receivable of $8,009. Uncollectible accounts are estimated to total $23,630 at the end of the perlod. (Omit recording cost of goods sold.) Enter the beginning balances for Accounts Recelivable and Allowance for Doubtful Accounts in a tabular summary. Use the summary to record transactions (a), (b), and (c) below. (a) Record sales and collections during the perlod. (b) Record the write-off of uncollectible accounts during the perlod. (c) Record bad debt expense for the period. (Enter negative amounts using elther a negative sign preceding the number e.g. 45 or parentheses e.g. (45).) Assets Liabilities + Stockholders' Equity Allow. For Retained Earnings Doubtful Common Stock Cash Accts. Rec. Rev. Exp. Accts Beg. Bal. (a) (b) (c) Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts. (Enter negative amounts using eithera negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Ending balance in Accounts Receivable Ending balance in Allowance for Doubtful Accounts

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