Reference no: EM133063161

Question - At the beginning of the current period, Tarjee Enterprises Ltd. had balances in Accounts Receivable of $2,100,000 and in Allowance for Doubtful Accounts of $141,000 (credit). During the period, Tarjee had credit sales of $4,329,000 with cost of goods sold of $3,124,000 and collections of $5,235,000. It wrote off $183,000 of accounts receivable. However, a $26,000 account written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $85,000 at the end of the period. Prepare the entries to record sales and collections during the period.