Low Battery nto a power outlet off as uncollectible was reco

Low Battery nto a power outlet off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $22,740 at the end of the period. (Omit cost of (b) Prepare the entry to record the write-off of u accounts during the period t account titles are ,275

Solution

Solution:

Debit

Credit

a

Accounts receivable

722,500

Sales revenue

722,500

Cash

708,940

Accounts receivable

708,940

b

Allowance for doubtful accounts

7,972

Accounts receivable

7,972

c

Accounts receivable

3,275

Allowance for doubtful accounts

3,275

Cash

3,275

Accounts receivable

3,275

d

Bad debt expense

18,917

Allowance for doubtful accounts

18,917

Ending balances:

Allowances for doubtful accounts: 14,220

Accounts receivable: 5,588

		Debit	Credit
a	Accounts receivable	722,500
	Sales revenue		722,500
	Cash	708,940
	Accounts receivable		708,940
b	Allowance for doubtful accounts	7,972
	Accounts receivable		7,972
c	Accounts receivable	3,275
	Allowance for doubtful accounts		3,275
	Cash	3,275
	Accounts receivable		3,275
d	Bad debt expense	18,917
	Allowance for doubtful accounts		18,917