1 problem 4 parts

CALCULATOR PRINTER VERSION BACK Problem 6-6 At December 31, 2016, Flint Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $581,200 38,440 During 2017, the company had the following transactions related to receivables. 1. Sales on account 2. Sales returns and allowances Collections of accounts receivable 4. Write-offs of accounts receivable deemed uncollectible 3 $2,863,600 74,900 2,512,000 42,630 Prepare a tabular summary that includes the following accounts: Cash, Accounts Receivable, Allowance for Doubtful Accounts, Revenue, and Expense. Enter the January 1, 2017, balances in Accounts Receivable and Allowance for Doubtful Accounts. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Assets Allow. For Doubtful Accts. = Liabilities + Stockholders' Equity Retained Earnings + Common Stock + Rev. Exp. Cash Accts. Rec. Beg. Bal. CALCULATOR PRINTER VERSION BACK Record transactions 1 through 4. (Omit recording cost of goods sold.) (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Assets Liabilities Cash Allow. For Doubtful Accts. Stockholders' Equity Retained Earnings Rev. Accts. Rec. + Common Stock + Exp. Beg. Bal. $ $ 1 2 3 4 SHOW LIST OF ACCOUNTS LINK TO TEXT Record bad debt expense for 2017, assuming that aging the accounts receivable indicates sign preceding the number e.g. -45 or parentheses e.g. (45).) estimated bad debts are $89,210. (Enter negative amounts using either a negative Assets Liabilities + Stockholders' Equity Record bad debt expense for 2017, assuming that aging the accounts receivable indicates that estimated bad debts are $89,210. (Enter negative amounts using e sign preceding the number e.g. -45 or parentheses e.g. (45).) Assets Liabilities + Allow. For Doubtful Accts. Stockholders' Equity Retained Earnings Rev. Exp. Cash Accts. Rec. Common Stock + (C) SHOW LIST OF ACCOUNTS LINK TO TEXT Indicate how accounts receivable and the allowance for doubtful accounts will be reported on the December 31, 2017, balance sheet. FLINT IMPORTS Balance Sheet Assets