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 balances
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 increaso, while Collections from customers cause the Accounts receivable balance to decrease Year 0 Year 1 Year 2 Year 3 Credit Sales 67000 67,500 Collections from 56,300 60 700 Customers Bad Debt 4,700 3,300 Expense Write-offs 3,500 4,100 End Accounts 25,000 32,000 36,000 Receivable End 7,000 Allowance 5,000 for DA End Net Accounts 20.000 29,400 Receivable
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