! Required information 3 [The following information applies to the questions displayed below.] es At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $ 160,000 $ 400,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $216,000 debit $ 2,200 debit 3. An aging analysis estimates that 5% 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 Accounts receivable $ 216,000 Less: Allowance for doubtful accounts $ 216,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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[The following information applies to the questions displayed below.]
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At December 31, Hawke Company reports the following results for its calendar year.
Cash sales
Credit sales
$ 160,000
$ 400,000
In addition, its unadjusted trial balance includes the following items.
Accounts receivable
Allowance for doubtful accounts
$216,000 debit
$ 2,200 debit
3. An aging analysis estimates that 5% 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
Accounts receivable
$ 216,000
Less: Allowance for doubtful accounts
$ 216,000
Transcribed Image Text:! Required information 3 [The following information applies to the questions displayed below.] es At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $ 160,000 $ 400,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $216,000 debit $ 2,200 debit 3. An aging analysis estimates that 5% 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 Accounts receivable $ 216,000 Less: Allowance for doubtful accounts $ 216,000
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