Business, 15.07.2020 01:01 MulletStaton3283

At the beginning of the current period, Rose Corp. had balances in Accounts Receivable of $200,000 and in Allowance for Doubtful Accounts of $9,000 (credit). During the period, it had net credit sales of $800,000 and collections of $763,000. It wrote off as uncollectible accounts receivable of $7,300. However, a $3,100 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $25,000 at the end of the period. 1. Prepare the entries to record sales and collections during the period.
2. Prepare the entry to record the write-off of uncollectible accounts during the period.
3. Prepare the entries to record the recovery of the uncollectible account during the period.
4. Prepare the entry to record bad debt expense for the period.
No. Account Titles and Explanation Debit Credit
A) Accounts Receivable 800000
Sales Revenue 800000
(To record sales)
Cash 763000
Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts.
Ending balance in Accounts Receivable 229700
Ending balance in Allowance for Doubtful Accounts 267000
What is the net realizable value of the receivables at the end of the period?
The net realizable value of the receivables at the end of the period 20300

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At the beginning of the current period, Rose Corp. had balances in Accounts Receivable of $200,000 a...

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