Doubtful debts
On 1 June, Mason and Boyce had Accounts Receivable and Allowance for Doubtful Debts accounts as below. Ignore GST. Account Receivables: 1/6 Balance 849,55 Allowance for Doubtful Debts: 1/6 Balance 12,100 During June, the following transactions occurred: 1. Revenue earned on credit, $1,195,000. 2. Sales returns, $24,100 3. Accounts receivable collected, $1,400,000. […]