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Record credit sales and the allowance for doubtful accounts

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Reference no: EM133127162

Question - 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).

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

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

Reference no: EM133127162

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