During the current year, sales on account were $306,173, collections on account were $290,550, write-offs of bad debts were $7,039,
and the bad debt expense adjustment was $4,755.
Required:
1-a. Complete the Accounts Receivable and Allowance for Doubtful Accounts T-accounts to determine the balance sheet values.
Disregard income tax considerations.
1-b. Complete the amounts related to Accounts Receivable and Bad Debt Expense that would be reported on the income statement
for the current year.
1-c. Complete the amounts related to Accounts Receivable and Bad Debt Expense that would be seported on the balance sheet for the
current year.