At the beginning of the current period engseth corp had

Assignment Help Accounting Basics

Reference no: EM13570003

At the beginning of the current period, Engseth Corp. had balances in Accounts Receivable of $233,400 and in Allowance for Doubtful Accounts of $9,500 (credit). During the period, it had net credit sales of $851,000 and collections of $789,000. It wrote off as uncollectible accounts receivable of $7,500. However, a $3,700 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $24,400 at the end of the period. (a) Prepare the entries to record sales and collections during the period. (b) Prepare the entry to record the write-off of uncollectible accounts during the period. (c) Prepare the entries to record the recovery of the uncollectible account during the period. (d) Prepare the entry to record bad debts expense for the period.

Reference no: EM13570003

Questions Cloud

Comparative statement data for lionel company and barrymore : comparative statement data for lionel company and barrymore company two competitors appear below. all balance sheet

Gwynne supply co has the following transactions related to : gwynne supply co. has the following transactions related to notes receivable during the last 2 months of the year. 1.

The ledger of montgomery company at the end of the current : the ledger of montgomery company at the end of the current year shows accounts receivable 78000 credit sales 996000 and

Berts meat market sells quarters and sides of beef on the : berts meat market sells quarters and sides of beef on the installment basis.losses on receivables are very difficult to

At the beginning of the current period engseth corp had : at the beginning of the current period engseth corp. had balances in accounts receivable of 233400 and in allowance for

What is the companys quick ratio possible answers 07 12 15 : what is the companys quick ratio? possible answers 0.7 1.2 1.5 2.5. assets cash is 4000 accounts receivable is-10150

Horse company has supplied the following information for : horse company has supplied the following information for 20x0 cash balance january 1 32000 total revenues 425000 total

Dubuque company has prepared the following sales budget : dubuque company has prepared the following sales budget month cash sales credit sales february 14000 28000 march 12800

Project risk and procurement management supply chain risk : task ltbrgt this is an individual assessment worth 50 of the module mark. word length 2500 words do not exceed word

User Account

All Pages