Steering Corporation reported the following selected information in its general ledger at December 31: All sales were on account. Some accounts receivable were collected. One account was written off; there were no subsequent recoveries. At the end of the year, uncollectible accounts were estimated to total $1,980. Using your knowledge of receivables transactions, determine the missing amounts. (Hint: You may not be able to solve the below items in alphabetical order. In addition, you may find it helpful to reconstruct the journal entries.) Beg. bal. End, bal. (a) U (f) Accounts Receivable 17,800 Allowance for Doubtful Accounts Beg. bal. 900 Unadj. bal. End. bal. Sales Bad Debts Expense (b) (d) (e) 54,900 1,800 900 77,200
Steering Corporation reported the following selected information in its general ledger at December 31: All sales were on account. Some accounts receivable were collected. One account was written off; there were no subsequent recoveries. At the end of the year, uncollectible accounts were estimated to total $1,980. Using your knowledge of receivables transactions, determine the missing amounts. (Hint: You may not be able to solve the below items in alphabetical order. In addition, you may find it helpful to reconstruct the journal entries.) Beg. bal. End, bal. (a) U (f) Accounts Receivable 17,800 Allowance for Doubtful Accounts Beg. bal. 900 Unadj. bal. End. bal. Sales Bad Debts Expense (b) (d) (e) 54,900 1,800 900 77,200
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter16: Accounting For Accounts Receivable
Section: Chapter Questions
Problem 1CP: Martel Co. has 320,000 in Accounts Receivable on December 31, 20-1, the end of its first year of...
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