Please answer part e completely and correctly with explanation computation formula steps answer in text no copy paste show explanation and computation clearly for numbers provide full working for all steps with explanation At the beginning of the current period, Shamrock Corp. had balances in Accounts Receivable of $187,800 and in Allowance forDoubtful Accounts of $9,630 (credit). During the period, it had net credit sales of $860,400 and collections of $687,720. It wrote offas uncollectible accounts receivable of $7,381. However, a $2,859 account previously written off as uncollectible was recoveredbefore the end of the current period. Uncollectible accounts are estimated to total $23,070 at the end of the period. (Omit cost ofgoods sold entries.)(a-d)(a)(b)(c)(d)Your answer is correct.(List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indentmanually. If no entry is required, select "No Entry for the account titles and enter O for the amounts)(b)Prepare the entries to record sales and collections during the period.Prepare the entry to record the write-off of uncollectible accounts during the period.Prepare the entries to record the recovery of the uncollectible account during the period.Prepare the entry to record bad debt expense for the period.No. Account Titles and Explanation(a)Accounts Receivable(c)Sales Revenue(To record sales)CashAccounts Receivable(To record cash received)Allowance for Doubtful AccountsAccounts ReceivableAccounts ReceivableAllowance for Doubtful AccountsDebit8604001[D] ZU6877207381Credit285986040068772073812859 (e)(d)(To reinstate account previously written off)CashAccounts Receivable(To record cash received)HintBad Debt ExpenseAllowance for Doubtful AccountseTextbook and MediaList of AccountsEnding balance in Accounts ReceivableDetermine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts.Ending balance in Allowance for Doubtful Accounts$2859$17962]] [[285917962Attempts: 2 of 3 used

The account receivables has normal debit balance. The allowance for doubtful accounts has normal…

At the beginning of the current period, Shamrock Corp. had balances in Accounts Receivable of $187,800 and in Allowance for Doubtful Accounts of $9,630 (credit). During the period, it had net credit sales of $860,400 and collections of $687,720. It wrote off as uncollectible accounts receivable of $7,381. However, a $2.859 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $23,070 at the end of the period. (Omit cost of goods sold entries. (a-d) (a) (b) (c) Your answer is correct. Prepare the entries to record sales and collections during the period. Prepare the entry to record the write-off of uncollectible accounts during the period. 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.

At the beginning of the current period, Shamrock Corp. had balances in Accounts Receivable of $187,800 and in Allowance for Doubtful Accounts of $9,630 (credit). During the period, it had net credit sales of $860,400 and collections of $687,720. It wrote off as uncollectible accounts receivable of $7,381. However, a $2.859 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $23,070 at the end of the period. (Omit cost of goods sold entries. (a-d) (a) (b) (c) Your answer is correct. Prepare the entries to record sales and collections during the period. Prepare the entry to record the write-off of uncollectible accounts during the period. 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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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