Answer:
Please find the detailed answer and explanation below.
Explanation:
1a
Accounts Receivables
Particulars Amount($) Particulars Amount($)
Beginning Bal. 48,271 Collections on accounts 290,700
Sales on account 306,548 Bad debts written off 7,054
Balance c/d 57,065
Total 354,819 354,819
Ending Balance <u>57,065</u>
Allowance for Doubtful accounts
Particulars Amount($) Particular Amount($)
Bad debt written off 7,054 Beginning Balance 8,469
Balance c/d 6,185 Bad debt expense 4,770
Total 13,239 13,239
Ending Balance 6,185
1b
Durney's Outdoor Outfitters
Income Statement (Partial)
For the year ended December 31
Operating Expense:
Bad debt Expense $4,770
Durney's Outdoor Outfitters
Balance Sheet (Partial)
For the year ended December 31
Current asset:
Accounts receivable $57,065
Allowance for Doubtful Accounts ($6,185)
Accounts receivables(Net) <u>$50,880</u>
