Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. assume the following information for tamarisk corp

Assume the following information for Tamarisk Corp. Accounts receivable (beginning balance) $ 161,000 Allowance for...

90.2K

Verified Solution

Question

Accounting

image
image
Assume the following information for Tamarisk Corp. Accounts receivable (beginning balance) $ 161,000 Allowance for doubtful accounts (beginning balance) 11,300 Net credit sales 942,000 Collections 912,000 5,200 Write-offs of accounts receivable Collections of accounts previously written off 2,200 Uncollectible accounts are expected to be 8% of the ending balance in accounts receivable. Your answer is partially correct. Prepare the entries to record the recovery of the uncollectible account during the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit Account Titles and Explanation 161000 Bad Debt Expense 161000 Accounts Receivable (To reverse write-off of accounts receivable) 11300 Allowance for Doubtful Accounts 11300 Accounts Receivable (To record collection of accounts receivable) Attempts: 1 of 2 used Submit Answer Save for Later

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students