Reference no: EM132751129

Assume the following information for Teal Mountain Corp.

Accounts receivable (beginning balance) $143,000

Allowance for doubtful accounts (beginning balance) 11,340

Net credit sales 930,000

Collections 912,000

Write-offs of accounts receivable 6,400

Collections of accounts previously written off 2,200

Uncollectible accounts are expected to be 6% of the ending balance in accounts receivable.

Problem 1: Prepare the entries to record sales and collections during the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Problem 2: Prepare the entry to record the write-off of uncollectible accounts during the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Problem 3: Prepare the entries to record the recovery of the uncollectible account during the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Problem 4: Determine the ending balance in Accounts Receivable and the unadjusted balance in Allowance for Doubtful Accounts.