question at the beginning of the current period marigold corp had balances in accoun 4305428

question at the beginning of the current period marigold corp had balances in accoun 4305428

Question

At the beginning of the current period, Marigold Corp. had balances in Accounts Receivable of $204,500 and in Allowance for Doubtful Accounts of $8,620 (credit). During the period, it had net credit sales of $836,300 and collections of $706,700. It wrote off as uncollectible accounts receivable of $7,063. However, a $3,070 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $23,050 at the end of the period. (Omit cost of goods sold entries.)

No.

Account Titles and Explanation

Debit

Credit

(To record sales)

(To reinstate account previously written off)

 

 

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