Reference no: EM132831645

Question - Assume the following information for Shamrock Corp.

Accounts receivable (beginning balance) $159,000

Allowance for doubtful accounts (beginning balance) 11,470

Net credit sales 938,000

Collections 904,000

Write-offs of accounts receivable 6,500

Collections of accounts previously written off 2,000

Uncollectible accounts are expected to be 9% of the ending balance in accounts receivable.

Required -

Part 1 - Make the entries to record sales and collections during the period.

Part 2 - Make the entry to record the write-off of uncollectible accounts during the period.

Part 3 - Make the entries to record the recovery of the uncollectible account during the period.

Part 4 - Determine the ending balance in Accounts Receivable and the unadjusted balance in Allowance for Doubtful Accounts.

Part 5 - Make the entry to record bad debt expense for the period.

Part 6 - Determine the ending (adjusted) balance in Allowance for Doubtful Accounts.