Carla Vista Company reported the following information in its general ledger at December 31. All...
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Accounting
Carla Vista Company reported the following information in its general ledger at December 31. All sales were on account. At the end of the year, uncollectible accounts were estimated to be 10% of accounts receivable.
(a)
Using your knowledge of receivables transactions, determine the missing amounts. Ignore any inventory, cost of goods sold, and refund liabilities for the purposes of this question. (Hint: You may find it helpful to reconstruct the journal entries.)
Accounts Receivable
Beg.
bal.
16,500
36,700
(a) enter a debit amount
(b) enter a credit amount
End.
bal.
(c) enter a debit balance
Sale
46,400
Allowance for Doubtful Accounts
Beg.
bal.
1,039
700
(d) enter a credit amount
End.
bal.
(e) enter a credit balance
Bad Debt Expense
(d) enter a debit amount
Answer & Explanation
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