Problem 8-2A At December 31, 2016, Pronghorn Corp Imports reported this information on its balance...
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Accounting
Problem 8-2A At December 31, 2016, Pronghorn Corp Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $632,300 36,420 During 2017, the company had the following transactions related to receivables. 1. Sales on account 2. Sales returns and allowances 3. Collections of accounts receivable 4. Write-offs of accounts receivable deemed uncollectible 5. Recovery of bad debts previously written off as uncollectible $2,931,300 107,220 2,578,700 42,440 16,490
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