Sunland Ltd. has been in business for several years and has the following information for...
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Sunland Ltd has been in business for several years and has the following information for its operations which ended December : Total sales for the year were $ of which were on account. The company estimates that total expected credit losses at December will be $ Sunland Ltd began the year with $ in accounts receivable and a normal credit to the allowance for expected credit losses of $ Sunland Ltd writes off customer accounts that have been outstanding for more than days. During the year, accounts with a carrying amount of $ reached the day mark and were written off. The company uses a collection agency to try to collect accounts that have been written off. The collection agency was able to collect $ from customers whose accounts had previously been written off. During the year the company collected $ of its accounts receivable. Prepare a summary journal entry for the credit sales and journal entries to record the above transactions on the books of Sunland Ltd on December 
Sunland Ltd has been in business for several years and has the following information for its operations which ended December :
Total sales for the year were $ of which were on account.
The company estimates that total expected credit losses at December will be $
Sunland Ltd began the year with $ in accounts receivable and a normal credit to the allowance for expected credit losses of $
Sunland Ltd writes off customer accounts that have been outstanding for more than days. During the year, accounts with a carrying amount of $ reached the day mark and were written off.
The company uses a collection agency to try to collect accounts that have been written off. The collection agency was able to collect $ from customers whose accounts had previously been written off.
During the year the company collected $ of its accounts receivable.
Prepare a summary journal entry for the credit sales and journal entries to record the above transactions on the books of Sunland Ltd on December
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