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Carla Vista Company reported the following information in its general ledger at December 31. All...

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Question

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 Solved by verified expert
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