Required information [The following information applies to the questions displayed below] At December 31, Hawke Company reports the following results for its calendar year. $ 340,000 $850,000 Cash sales. Credit sales In addition, its unadjusted trial balance includes the following items. Accounts receivable. $ 765,000 debit Allowance for doubtful accounts $ 6,100 debit 3. An aging analysis estimates that 4% of year-end accounts receivable are uncollectible. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. Current assets.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Required information
[The following information applies to the questions displayed below]
At December 31, Hawke Company reports the following results for its calendar year.
Cash sales
Credit sales
$ 340,000
$ 850,000
In addition, its unadjusted trial balance includes the following items.
Accounts receivable.
Allowance for doubtful accounts
Current assets:
$765,000 debit
$ 6,100 debit
3. An aging analysis estimates that 4% of year-end accounts receivable are uncollectible. Show how Accounts Receivable and the
Allowance for Doubtful Accounts appear on its December 31 balance sheet.
$
0
Transcribed Image Text:Required information [The following information applies to the questions displayed below] At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $ 340,000 $ 850,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable. Allowance for doubtful accounts Current assets: $765,000 debit $ 6,100 debit 3. An aging analysis estimates that 4% of year-end accounts receivable are uncollectible. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. $ 0
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