Question: Need help with part A please Analyzing Accounts Receivable Changes In 2016, Grant Corporation recorded credit sales of $640,000 and bad debts expense of $8,400.

Need help with part A please Need help with part A please Analyzing Accounts Receivable Changes In

Analyzing Accounts Receivable Changes In 2016, Grant Corporation recorded credit sales of $640,000 and bad debts expense of $8,400. Write-offs of uncollectible accounts totaled $7,800 and one account, worth $2,400, that had been written off in an earlier year was collected in 2016. a. Prepare journal entries to record each of these transactions. b. If net accounts receivable increased by $44,000, how much cash was collected from credit customers during the year? Prepare a journal entry to record cash collections. C. Set up T-accounts and post each of the transactions in parts a and b to them. d. Record each of the above transactions in the financial statement effects template to show the effect of these entries on the balance sheet and income statement. part a. part b. part c part d. a. Prepare journal entries to record each of these transactions. Debit 6,400,000 x 0 Credit 0 6,400,000 * 0 84,000 X 0 84,000 X General Journal Ref. Description (0) Accounts Receivable Sales Revenue To record sales revenue for the year, Bad Debts Expense Allowance for Uncollectible Accounts To record bad debt expense for the year. (iii) Allowance for Uncollectible Accounts Accounts Receivable To write-off uncollectible accounts for the year. (iv) Accounts Receivable Allowance for Uncollectible Accounts To reverse prior write-off now deemed collectible. (v) Cash Accounts Receivable To record collection of reinstated account,

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