The following information pertains to Godwin Motors, which uses the allowance method for receivables: 2011 2012...

 

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The following information pertains to Godwin Motors, which uses the allowance method for receivables: 2011 2012 $ 648,750 $ 580,498 24,650 Gross receivables Allowance for bad debts 33,560 Net sales 7,555,000 6,325,000 Required a. Assuming that Godwin Motors recorded bad debt expense of $25,600 in 2012, what amount of ac- counts receivable were written off in 2012? b. Prepare the journal entries to record the 2012 bad debt expense and the 2012 write-offs of uncollectible accounts. c. Assuming that Godwin made all sales on credit, what amount of cash was collected in 2012? The following information pertains to Godwin Motors, which uses the allowance method for receivables: 2011 2012 $ 648,750 $ 580,498 24,650 Gross receivables Allowance for bad debts 33,560 Net sales 7,555,000 6,325,000 Required a. Assuming that Godwin Motors recorded bad debt expense of $25,600 in 2012, what amount of ac- counts receivable were written off in 2012? b. Prepare the journal entries to record the 2012 bad debt expense and the 2012 write-offs of uncollectible accounts. c. Assuming that Godwin made all sales on credit, what amount of cash was collected in 2012?