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Determine Use the BSE to record credit sales

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Reference no: EM132463212

Accounts Receivable

The notes and tables below provide information about the Accounts Receivable for C&S, Inc. Accounts Receivable, net consists of the following:

Year ended Dec 31                                           2016                    2015 

Accounts Receivable                                  104,520              86,904

Less: Allowance for doubtful accounts           (7,946)               (7,360)

Accounts Receivables, net                            96,574                79,544

Assume that C&S had total credit sales (before allowances) of $1,400,000 in 2016. At the beginning of 2016, C&S' accountants estimate that a total of 1% of credit sales will be uncollectible.

In the questions below, be sure to label each account as Asset (A), Contra-Asset (CA), Liability (L), or Equity (E).

Question (a) Use the BSE to record credit sales and the allowance for doubtful accounts for C&S for 2016

Question (b) Use the BSE to record the C&S write off of accounts receivables for 2016

Reference no: EM132463212

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