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Business, 16.04.2020 02:58 sedilei1515

The following information pertains to the financial statements of Buffalo Supply Company, a provider of plumbing fixtures to contractors in central Pennsylvania. Fiscal Years Ended October 31, 2017 2016 2015 From Income Statements Revenues $ 3,519,444 $ 3,877,135 $ 2,969,981 Provision for bad debts 45,753 50,403 38,610 From Balance Sheets Gross accounts receivable $ 345,044 $ 362,349 $ 282,855 Less: Allowance for doubtful accounts (54,654 ) (74,365 ) (47,612 ) Net accounts receivable $ 290,390 $ 287,984 $ 235,243 Required: Reconstruct all journal entries pertaining to Gross accounts receivable and Allowance for doubtful accounts for the fiscal year ended October 31, 2017. Assume that all revenues are from credit sales. (Hint: Begin by doing a T-account analysis of both accounts, starting with the allowance account.) (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.)

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