As of December 31, 2017, the Balance Sheet of Kelly Inc. included the following balances:...
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As of December 31, 2017, the Balance Sheet of Kelly Inc. included the following balances: During 2018, the following occurred: .2018 Sales totaled $2,000,000. All sales were on account. .2018 Sales returns totaled $25,000. Cash collected on Accounts Receivable totaled $1.800.000 .Receivables deemed uncollectible and written off totaled $22,000. . An analysis at 12/31/18 indicated that 4% of accounts receivable will be uncollectible. Requirements: Record entries for 2017 sales (ignore COGS), returns, cash collections and write-offs. Dato Title he redit B) Update Accounts Receivable and the Allowance for doubtful accounts balances for 2018 activity and then record the necessary 12/31/18 adjusting entry to record bad debts. Show your work
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