At the beginning of the current period, Concord Corporation had balances in Accounts Receivable of $218,900 and in Allowance for
Doubtful Accounts of $9,890 (credit). During the period, it had credit sales of $742,000 and collections of $711,970. It wrote off as
uncollectible accounts receivable of $6,689. However, a $2,793 account previously written off as uncollectible was recovered before
the end of the current period. Uncollectible accounts are estimated to total $27,030 at the end of the period. (Omit cost of goods sold
entries.)
(a) - (d)
(a)
Prepare the entries to record sales and collections during the period.
(b)
Prepare the entry to record the write-off of uncollectible accounts during the period.
(c)
Prepare the entries to record the recovery of the uncollectible account during the period.
(d)
Prepare the entry to record bad debt expense for the period.