Answer:
total sales should be recorded as follows:
Dr Accounts receivables 733,600
Cr Sales revenue 733,600
collections should be recorded as follows:
Dr Cash 767,780
Cr Accounts receivable 767,780
to record the write off:
Dr Allowance for uncollectible accounts 7,149
Cr Accounts receivable 7,149
the two entries needed to record the collection of previous write offs:
Dr Accounts receivables 2,957
Cr Allowance for uncollectible accounts 2,957
Dr Cash 2,957
Cr Accounts receivable 2,957
to record estimated bad debt expense for the year:
Dr Bad debt expense 19,742
Cr Allowance for uncollectible accounts 19,742
