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Make entries to record sales and collections during period

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Reference no: EM132958359

Assume the following information for Tamarisk Corp.

Accounts receivable (beginning balance) $151,000

Allowance for doubtful accounts (beginning balance) 11,500

Net credit sales 950,000

Collections 907,000

Write-offs of accounts receivable 5,600

Collections of accounts previously written off 1,600

Uncollectible accounts are expected to be 8% of the ending balance in accounts receivable.

Problem 1: Prepare the entries to record sales and collections during the period.

Reference no: EM132958359

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