edugen.wileyplus.comSOFTWARE UPDATEReturn to Blackboard7:12 PMISWeygandt, Accounting Principles, 13th Edition, Custom WileyPLUS Course for Bronx Community CollegeHelp | System AnnouncementsmacOS Big Sur 11.3.1 is available and will be installedlater tonight.CALCULATORExercise 9-04 a-f (Part Level Submission)PRINTER VERSIONВАСKNEXTAt the beginning of the current period, Vaughn had balances in Accounts Receivable of $273,000 and in Allowance for Doubtful Accounts of $9,200 (credit). During the period, it had net credit sales of$870,000 and collections of $826,500. It wrote off as uncollectible accounts receivable of $6,700. However, a $3,000 account previously written off as uncollectible was recovered before the end ofthe current period. Uncollectible accounts are estimated to total $25,200 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)(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 autonmatically indented when amount is entered. Do not indent manually.)DebitCreditNo. Account Titles and Explanation870,000(a) Accounts Receivable870,000Sales Revenue(To record sales)826,500Cash826,500Accounts Receivable(To record cash collected during the period)6700(b) Allowance for Doubtful Accounts6700Accounts Receivable3000(c) Accounts Receivable3000Allowance for Doubtful Accounts(To reinstate account previously written off)30003000

JOURNAL ENTRY S.No Particulars Debit Credit (a). Account receivable 870,000 Sales revenue…

Exercise 9-04 a-f (Part Level Submission) At the beginning of the current period, Vaughn had balances in Accounts Receivable of $273,000 and in Allowance for Doubtful Accounts of $9,200 (credit). During the period, it $870,000 and collections of $826,500. It wrote off as uncollectible accounts receivable of $6,700. However, a $3,000 account previously written off as uncollectible was recover the current period. Uncollectible acounts are estimated to total $25,200 at the end of the period. (Omit cost of goods sold entries.)

Exercise 9-04 a-f (Part Level Submission) At the beginning of the current period, Vaughn had balances in Accounts Receivable of $273,000 and in Allowance for Doubtful Accounts of $9,200 (credit). During the period, it $870,000 and collections of $826,500. It wrote off as uncollectible accounts receivable of $6,700. However, a $3,000 account previously written off as uncollectible was recover the current period. Uncollectible acounts are estimated to total $25,200 at the end of the period. (Omit cost of goods sold entries.)

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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