|No.||Account titles and explanations||Debit||Credit|
|2)||Sales return and allowance||50,000|
|4)||Allowance for doubtful accounts||42,400|
|Allowance for doubtful accounts||16,000|
|Allowance for Doubtful accounts|
|Account titles and explanations||Debit||Credit|
|Bad debts expesne||34,400|
|Allowance for Doubtful accounts||34,400|
|less allowance for doubtful||-38,000||-46000|
|net realizable value||527,700||727,300|
|Average account receivable (527700+727300)|
|Accounts receivable turnover = net sales/account receivable turnover|
|Average collection period||91.3||Days|
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