Martha’s Pies sells frozen pies to grocery stores.At the end of the current year

Question

Martha’s Pies sells frozen pies to grocery stores.At the end of the current year, Martha’s Pies had an accountsreceivable balance of $155,000. Sales (all credit) for the yearwere $386,000 and $2,700 in sales were returned because theexpiration date on the products had passed. The balance in theallowance for doubtful accounts at the beginning of the year was$5,546. One account in the amount of $1,440 was written off becausethe customer went out of business. On the last day of the year,Martha’s Pies recorded bad debts expense of $5,500. Prepare aschedule showing the ending balance in accounts receivable less theallowance for doubtful accounts.

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