Questions: Allowance for Doubtful Accounts 19168 eTextbook and Media Hint List of Accounts Attempts: 1 of 3 used (e) Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts. Ending balance in Accounts Receivable Ending balance in Allowance for Doubtful Accounts

To determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts, we need to consider the following steps:

1. Accounts Receivable:

   • Start with the beginning balance of Accounts Receivable.
   • Add any credit sales made during the period.
   • Subtract any collections from customers.
   • Subtract any write-offs of uncollectible accounts.

2. Allowance for Doubtful Accounts:

   • Start with the beginning balance of the Allowance for Doubtful Accounts.
   • Add any bad debt expense recognized during the period.
   • Subtract any write-offs of uncollectible accounts.

Let's assume the following hypothetical data for illustration:

• Beginning Balance of Accounts Receivable: $50,000

• Credit Sales during the Period: $30,000

• Collections from Customers: $40,000

• Write-offs of Uncollectible Accounts: $5,000

• Beginning Balance of Allowance for Doubtful Accounts: $3,000

• Bad Debt Expense Recognized: $2,000

Ending Balance in Accounts Receivable:

• Beginning Balance: $50,000
• Plus Credit Sales: $30,000
• Minus Collections: $40,000
• Minus Write-offs: $5,000
• Ending Balance: $35,000

Ending Balance in Allowance for Doubtful Accounts:

• Beginning Balance: $3,000
• Plus Bad Debt Expense: $2,000
• Minus Write-offs: $5,000
• Ending Balance: $0

These calculations are based on the assumption of hypothetical data. You would need to replace these figures with the actual data from your records to determine the correct ending balances.