Hello everyone! I\'ve searched the internet for hours trying to find some help,b

Question

Hello everyone!
I've searched the internet for hours trying to find some help,but no luck. I would really appreciate if someone could helpme out.
Here are the instructions:
At the beggining of the current period, Emler Corp. hadbalances in Accounts Recevable of $200k and in Allowance forDoubtful Accounts of $9k (credit). During the period, it hadnet credit sales of $à800k and collections of $763k. It wrote off as uncollectible accounts receivable of $7k. However, a $3k account previously written off asuncollectible was recovered before the end of the current period. Uncollectible accounts are estimated ^to total $25k at theend of the period.
a) Prepare the entries to record sales and collections duringthe period. b) Prepare the entry to record the write-off of uncollectibleaccounts during the period. c) Prepare the entries to record the recovery of theuncollectible account during the period. d) Prepare the entry to record bad debt expense for theperiod. e) Determine the ending balances in accounts receivables andallowance for doubtful accounts. f) Whati is the net realizable value of the receivables at theend of the period?
Thank you in advance!!!
Regards,
Lorena
I've searched the internet for hours trying to find some help,but no luck. I would really appreciate if someone could helpme out.
Here are the instructions:
At the beggining of the current period, Emler Corp. hadbalances in Accounts Recevable of $200k and in Allowance forDoubtful Accounts of $9k (credit). During the period, it hadnet credit sales of $à800k and collections of $763k. It wrote off as uncollectible accounts receivable of $7k. However, a $3k account previously written off asuncollectible was recovered before the end of the current period. Uncollectible accounts are estimated ^to total $25k at theend of the period.
a) Prepare the entries to record sales and collections duringthe period. b) Prepare the entry to record the write-off of uncollectibleaccounts during the period. c) Prepare the entries to record the recovery of theuncollectible account during the period. d) Prepare the entry to record bad debt expense for theperiod. e) Determine the ending balances in accounts receivables andallowance for doubtful accounts. f) Whati is the net realizable value of the receivables at theend of the period?
Thank you in advance!!!
Regards,
Lorena

Explanation / Answer

a) AccountReceivable 800,000 Sales 800,000 Cash 763,000 Account Receivable 763,000 b) Allowance for doubtfulaccount 7,000 Account Receivable 7,000

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