At the beginning of the current period, Kingbird, Inc. had balances in Accounts Receivable of $200,900 and in Allowance for Doubtful Accounts of $9,080 (credit). During the period, it had net credit sales of $787,700 and collections of $755,550. It wrote off as uncollectible accounts receivable of $7,106. However, a $3,300 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $23,450 at the end of the period. (Omit cost of goods sold entries.)     (a)   Prepare the entries to record sales and collections during the period. (b)   Prepare the entry to record the write-off of uncollectible accounts during the period. (c)   Prepare the entries to record the recovery of the uncollectible account during the period. (d)   Prepare the entry to record bad debt expense for the period. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)   No. Account Titles and Explanation Debit Credit (a)                 (To record sales)                     (b)               (c)                 (To reinstate account previously written off)                     (d)               PT 2: Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts. Ending balance in Accounts Receivable   $ ?   Ending balance in Allowance for Doubtful Accounts   $ ? PT 3: What is the net realizable value of the receivables at the end of the period? The net realizable value of the receivables at the end of the period   $ ?

Brickman Corporation uses the allowance method to account for uncollectible receivables. At the beginning of the year, Allowance for Bad Debts had a credit balance of $1,000.During the year Brickman wrote off uncollectible receivables of $2,100. Brickman recorded Bad Debts Expense of $2,700. What is Brickman's year-end balance in Allowance for Bad Debts? $600 $3,700 $4,800 $1,600

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At the beginning of the current period, Skysong, Inc. had balances in Accounts Receivable of $197,000 and in Allowance for Doubtful Accounts of $9,040 (credit). During the period, it had net credit sales of $862,700 and collections of $838,670. It wrote off as uncollectible accounts receivable of $7,477. However, a $3,049 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $26,310 at the end of the period. (Omit cost of goods sold entries.) (a-d) (a) Prepare the entries to record sales and collections during the period. (b) Prepare the entry to record the write-off of uncollectible accounts during the period. (c) Prepare the entries to record the recovery of the uncollectible account during the period. (d) Prepare the entry to record bad debt expense for the period.

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Funnel Direct recorded $1,341,780 in credit sales for the year and $699,455 in accounts receivable. The uncollectible percentage is 4.4% for the income statement method and 4% for the balance sheet method. A. Record the year-end adjusting entry for 2018 bad debt using the income statement method. B. Record the year-end adjusting entry for 2018 bad debt using the balance sheet method. C. Assume there was a previous credit balance in Allowance for Doubtful Accounts of $13,588; record the year-end entry for bad debt using the income statement method, and then the entry using the balance sheet method. If an amount box does not require an entry, leave it blank. Round your answers to two decimal places. A. Dec. 31   - Select - - Select -     - Select - - Select -   To record bad debt, income statement method     B. Dec. 31   - Select - - Select -     - Select - - Select -   To record bad debt, balance sheet method     C. Dec. 31   - Select - - Select -…

At the beginning of the current period, Sunland company had balances in accounts receivables of $201,900 and in Allowance for Doubtful Accounts of $9,590 (credit). During the period, it had credit sales of $875,700 and collections of $796,820. It was written off as uncollectible accounts receivable of $7,410. However, a $2,808 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $25,830 at the end of the period (Omit the cost of goods sold entries). a) Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts. b) What is the net realizable value of the receivables at the end of the period?

At the beginning of the current period, Asare Company had balances in Accounts Receivable of $200,092 and in Allowance for Doubtful Accounts of $9,996 (credit). During the period, it had net credit sales of $717,375 and collections of $778,839. It wrote off as uncollectible accounts receivable of $7,233. However, a $3,013 account previously written off as uncollectible was recovered before the end of the current period. What is the ending balance in the accounts receivable account? Your Answer: Answer

At the end of the current year, Accounts Receivable has a balance of $947,700; Allowance for Doubtful Accounts has a credit balance of $7,201; and credit sales for the year total $3,040,000. Bad debt expense is estimated at 1/2 of 1% of credit sales. a. Determine the amount of the adjusting entry for bad debt expense. $ b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable Allowance for Doubtful Accounts Adjusted Balance Bad Debt Expense c. Determine the net realizable value of accounts receivable. $

Blackhorse Productions, Incorporated, used the aging of accounts receivable method to estimate that its Allowance for Doubtful Accounts should be $22,550. The account had an unadjusted credit balance of $11,400 at that time.   The appropriate bad debt adjustment was recorded. Later, an account receivable for $2,400 was determined to be uncollectible and was written off.   Required: For each transaction listed above, indicate the amount and direction (+ for increase or − for decrease) of effects on the financial statement accounts and on the overall accounting equation. (Enter any decreases to Assets, Liabilities, or Stockholders Equity with a minus sign.)