X Stores Ltd. had the following account balances at December 31, 2021: Office supplies expense Travel and entertainment expense Dividends, paid in cash Payments to suppliers on account Sales revenue Sales returns and allowances Contributions by owners Advertising expense Cost of goods sold Insurance expense Collections from customers on account Income tax expense Cash received from debt Deferred revenue Sales discounts Freight expense Prepaid expenses Repairs and maintenance expense Rent expense $4,260 2,745 11,000 33,825 233,500 11,250 15,000 6,965 145,180 1,500 37,655 8,540 10,000 9,500 8,750 6,850 9,875 4,745 13,500

X Stores Ltd. had the following account balances at December 31, 2021: Office supplies expense Travel and entertainment expense Dividends, paid in cash Payments to suppliers on account Sales revenue Sales returns and allowances Contributions by owners Advertising expense Cost of goods sold Insurance expense Collections from customers on account Income tax expense Cash received from debt Deferred revenue Sales discounts Freight expense Prepaid expenses Repairs and maintenance expense Rent expense $4,260 2,745 11,000 33,825 233,500 11,250 15,000 6,965 145,180 1,500 37,655 8,540 10,000 9,500 8,750 6,850 9,875 4,745 13,500

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter5: Sales And Receivables

Section: Chapter Questions

Problem 65E: Average Uncollectible Account Losses and Bad Debt Expense The accountant for Porile Company prepared...

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