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Exercise B-03 At the beginning of the current period, Larkspur Corp. had balances in Accounts Receivable of $201,700 and in Allowance for Doubtful Accounts of $9,590 (credit). During the period, it had net credit sales of $875,700 and collections of $796,820. It wrote off as uncollectible accounts receivable of $7,410 However, a $2,808 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $25,830 at the end of the period. (Omit cost of goods sold entries.) Your answer is correct. ly (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. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (a) Accounts Receivable 875700 875700 Sales Revenue (To record sales) 796820 cash 706020 Accounts Receivable (To record cash received) Version 4.2421 Privacy Policy 2000-2021 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley Sons Inc. CALCULATOR STANDARD VIEW PRINTER VERSION RCES 5 (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (a) Accounts Receivable 8757001 Sales Revenue 875700 (To record sales) cash 795820) Study Accounts Receivable 796820 (To record cash received) (b) Allowance for Doubtful Accounts 7410 Accounts Receivable 7410 2808 (c) Accounts Receivable 2808 Allowance for Doubtful Accounts (To reinstate account previously written of 2808 Cash 2808 Accounts Receivable (To record cash received) 20542 (d) Bad Debt Expense Allowance for Doubtful Accounts SHOW LIST OF ACCOUNTS SHOW SOLUTION UN TO VIDEO LINE TO TEET Di OD 20 F & 1 $ SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT LINK TO VIDEO x Your answer is incorrect. Try again. Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts. Ending balance in Accounts Receivable Ending balance in Allowance for Doubtful Ac unts LINK TO TEXT LINK TO VIDEO x Your answer is incorrect. Try again. What is the net realizable value of the receivables at the end of the period? Net realizable value of the receivables at the end of the periode Click if you would like to show Work for this question: Open Show Work LINK TO VIDEO LINK TO TEXT Question Attempts: Unlimited . 000 5310

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