Business, 12.02.2021 09:40 Izzyfizzy

At December 31, 2021, Crane Imports reported this information on its balance sheet. Accounts receivable $637,000 Less: Allowance for doubtful accounts 35,000 During 2022, the company had the following transactions related to receivables. 1. Sales on account $3,060,000 2. Sales returns and allowances 50,000 3. Collections of accounts receivable 2,760,000 4. Write-offs of accounts receivable deemed uncollectible 42,000 5. Recovery of bad debts previously written off as uncollectible 15,000 (a) Prepare the journal entries to record each of these five transactions

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At December 31, 2021, Crane Imports reported this information on its balance sheet. Accounts receiva...

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