Question: Fill in the missing amounts in the table below. Hint: set up t-accounts for Accounts Receivable and the allowance and plug in the appropriate
Fill in the missing amounts in the table below. Hint: set up t-accounts for Accounts Receivable and the allowance and plug in the appropriate balances and changes. For example, Bad debt expense causes the Allowance balance to increase, while Collections from customers cause the Accounts receivable balance to decrease. Year 0 Year 11 Credit Sales 87,000 Collections from Year 2 Year 3 67,500 56,300 60,700 Customers Bad Debt Expense 4,700 3,300 Write-offs 3,500 4,100 End. Accounts 25,000 32,000 36,000 Receivable: End. Allowance 5,000 7,000 for DA End. Not Accounts 20,000 29,400 Receivable
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