00000 Inland LTE 12:06 PM edu 72% gen wileyplus.com Problem 9-1A (Part Level Sub

Question

00000 Inland LTE 12:06 PM edu 72% gen wileyplus.com Problem 9-1A (Part Level Submission) At December 31, 2016, House Co. reported the following information on its balance sheet. $960,500 78,000 During 2017, the company had the following transactions related to receivables. 1. Sales on account 2. Sales returns and allowances 3. Collections of accounts receivable 4. Write-offs of accounts receivable deemed uncollectible S. Recovery of bad debts previously written off as uncollectible 000 $3,565,000 48,000 2.813,800 0,100 Your answer is partially correct. Try again. Enter the January 1, 2017, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts (use T-accounts), and determine the balances. (Post entries in the order of journal entries presented in the previous part.) Accounts Receivable Allowance for Doubtful Accounts NOW LEST

Explanation / Answer

Accounts Receivable

Bal

960500

(2)

48000

(1)

3665000

(3)

2813800

(5)

30000

(4)

90100

(5)

30000

Bal

1673600

Allowance for Doubtful Account

(4)

90100

Bal

78000

(5)

30000

Bal

17900

Accounts Receivable

Bal

960500

(2)

48000

(1)

3665000

(3)

2813800

(5)

30000

(4)

90100

(5)

30000

Bal

1673600

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