Question

At the beginning of the current period, Bramble Corp. had balances in Accounts Receivable of $196,800...

At the beginning of the current period, Bramble Corp. had balances in Accounts Receivable of $196,800 and in Allowance for Doubtful Accounts of $9,510 (credit). During the period, it had credit sales of $864,300 and collections of $687,610. It wrote off as uncollectible accounts receivable of $6,804. However, a $3,219 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $24,000 at the end of the period. (Omit cost of goods sold entries.)
A) Prepare the entries to record sales and collections during the period.
(b) Prepare the entry to record the write-off of uncollectible accounts during the period.
(c) Prepare the entries to record the recovery of the uncollectible account during the period.
(d) Prepare the entry to record bad debt expense for the period.
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Answer #1
No. Accounts Debit Credit
a. Accounts receivable $864,300
Sales revenue $864,300
Cash $687,610
Accounts receivable $687,610
b. Allowance for Doubtful Accounts $6,804
Accounts receivable $6,804
c. Accounts receivable $3,219
  Allowance for Doubtful Accounts $3,219
Cash $3,219
Accounts receivable $3,219
d. Bad debts expense (9510-6804+3219-24000) $18,075
  Allowance for Doubtful Accounts $18,075
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