Business, 18.03.2021 01:20 NeriyahY

On January 1, 2019, Hungryman, Inc., has the following balances for accounts receivable and allowance for doubtful accounts: Accounts Receivable $1,286,500 Allowance for Doubtful Accounts (a credit balance) 47,000 During 2019, Hungryman had $18,900,000 of credit sales, collected $17,945,000 of accounts receivable, and wrote off $60,000 of accounts receivable as uncollectible. At year end, Hungryman performs an aging of its accounts receivable balance and estimates that $52,000 will be uncollectible. Required:
1. Calculate Hungryman's preadjustment balance in accounts receivable on December 31, 2019.2. Calculate Hungryman's preadjustment balance in allowance for doubtful accounts on December 31, 2019.3. Prepare the necessary adjusting entry for 2019

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On January 1, 2019, Hungryman, Inc., has the following balances for accounts receivable and allowanc...

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