Transcribed Image Text: At the beginning of the current period, Whispering Winds Corp. had balances in Accounts Receivable of $200,600 and in Allowance for Doubtful Accounts of $9,630. During the

Transcribed Image Text: At the beginning of the current period, Whispering Winds Corp. had balances in Accounts
Receivable of $200,600 and in Allowance for Doubtful Accounts of $9,630. During the period, it
had net credit sales of $770,000 and collections of $746,470. It wrote off as uncollectible
accounts receivable of $7,481. Uncollectible accounts are estimated to total $22,900 at the end
of the period. (Omit recording cost of goods sold.)
Enter the beginning balances for Accounts Receivable and Allowance for Doubtful Accounts in a
tabular summary. Use the summary to record transactions (a), (b), and (c) below.
(a) Record sales and collections during the period.
(b) Record the write-off of uncollectible accounts during the period.
(c) Record bad debt expense for the period.
(Enter negative amounts using either a negative sign preceding the number e.g. -45 or
parentheses e.g. (45).)
Liabili
ties
Assets
Stockholders’ Equity
Allow.
Retained Earnings
For
Doubtf
ul
Comm
Accts.
Cash
on
Rev.
Exp.
Rec.
Accts
Stock
Be
g.
Ba
1.
$4
$1
$
$4
(a
(b
(c
%24
%24
%24
%24
%24

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