-C ii Seoure https:/.eduqen.wierplu.com.eduqen/t/manuni WileyPLUS Kimmel, Accoun
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-C ii Seoure https:/.eduqen.wierplu.com.eduqen/t/manuni WileyPLUS Kimmel, Accounting, be At te xginning o the current Dood Blossom Company had balances in Accourtz Recevable o s101.500 and in Alowance for DDUD ul Acco rts of $5,800 credit cuing the penod it had net credit sales o £723,000 and collections o S707 780. It ote o omit cost o gcod:old entries. uncollectible was recovered be ore the end of the current pe od Uncollectible acco nts re cet mated to total $25,410 t the cnd ofthe perco uncollectible .ccurtz rece vable cf7,149. However, 32.957 2ccount previo cly written o (a) Prepare the entrics to record saes and collestions during the period. c) PrApaine the antries to recond the cavey ct the uncolactible account duinq the pericd (d) Prepare the entry to record bad dbt expene for tha peiod. No. Account Tties and Explanation To record calec) To rorstat .count previously written aff) Determins the cnding balances In Accounts Raccvabic and Allomancc for Doubtful Account:. Endina halance in Accounts Receivabia Ending balance in Allowance for Doubtful ccounts s What is the net realizabla value o the recaivables at the and ot the ceroo The net realzable value at the recaivables at the and ct the periad E O lype here to searchExplanation / Answer
In the books of Blossom Company:
Ending balance in accounts receivable: $ 150,171
Ending balance in allowance for doubtful accounts : $ 25,440
Net realizable value of receivables : $ 124,731
Accounts Receivable:
Transaction/ Event Account Titles and Explanations Debit Credit $ $ a. Accounts Receivable 733,600 Sales 733,600 To record sales a. Cash 767,780 Accounts Receivable 767,780 To record collections b. Allowance for Doubtful Accounts 7,149 Accounts Receivable 7,149 To write off uncollectible account c. Accounts Receivable 2,957 Allowance for Doubtful Accounts 2,957 To reistate account written off c. Cash 2,957 Accounts Receivable 2,957 To record recovery d. Bad Debt Expense 19,742 Allowance for Doubtful Accounts 19,742 To record bad debt expenseRelated Questions
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