for Accountin ng of 2017, EZ Tech Company\'s Accounts Receivable balance was $22

Question

for Accountin ng of 2017, EZ Tech Company's Accounts Receivable balance was $224,000, and the balance in Allowance for Doubtful Accounts was s At the e company wrote off $6,000 of uncollectible accounts during the year Required: I. Identify and analyze the sales during 2017, Activity Operating Accounts How does this entry affect the accounting equation? be sure to enter the ement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is dentify and analyze the transactions related to the collections of cash during 2017 Activity ccounts tatement(s)

Explanation / Answer

Balance Sheet Income Statement ASSET = LIABILITY+ SH EQUITY REVENUES- EXPENSES= NET INCOME CASH+ AR= ALL FOR DOUBT A/CS opening balance 224000 3800 sales 336000 1344000 1680000 credit collection 1080000 -1080000 written off -6000 -6000 bad debt expenses 2200 -2200 closing balance 1416000 482000 0 1680000 -2200

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