Chapter 8, Problem 8.3E

(a)

To determine

Accounts receivable

Accounts receivable refers to the amounts to be received within a short period from customers upon the sale of goods and services on account. In other words, accounts receivable are amounts customers owe to the business. Accounts receivable is an asset of a business.

To Prepare: The journal entries for recording the sales and collections made during the period.

(b)

To determine

To Prepare: The journal entry to write-off the uncollectible accounts during the period.

(c)

To determine

To Prepare: The journal entries to record the recovery of the uncollectible account during the period.

(d)

To determine

To Prepare: The journal entry to record the bad debt expenses for the period.

(e)

To determine

The ending balances in accounts receivable and allowance for doubtful accounts.

(f)

To determine

To calculate: The net realizable value of the receivables at the end of the period.