At December 31, Hawke Company reports the following results for its calendar year. Cash sales $ 1,905,000 Credit sales $ 5,682,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $ 1,270,100 debit $ 16,580 debit

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 4PB: Bristax Corporation recorded $1,385,660 in credit sales for the year, and $732,410 in accounts...
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[The following information applies to the questions displayed below.]
At December 31, Hawke Company reports the following results for its calendar year.
$ 1,905,000
$ 5,682,000
In addition, its unadjusted trial balance includes the following items.
Cash sales
Credit sales
Accounts receivable
Allowance for doubtful accounts.
$ 1,270, 100 debit
$ 16,580 debit
2. Bad debts are estimated to be 1.5% of credit sales. Show how Accounts Receivable and the Allowance for Doubtful Accounts
appear on its December 31 balance sheet.
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. $ 1,905,000 $ 5,682,000 In addition, its unadjusted trial balance includes the following items. Cash sales Credit sales Accounts receivable Allowance for doubtful accounts. $ 1,270, 100 debit $ 16,580 debit 2. Bad debts are estimated to be 1.5% of credit sales. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet.
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