Accounting for uncollectible accounts: percent of receivables
Allowance method
Hammond Inc. experienced the following transactions for 2012, its first year of operations:
1. Issued common stock for $80,000 cash.
2. Purchased $225,000 of merchandise on account.
3. Sold merchandise that cost $148,000 for $294,000 on account.
4. Collected $242,000 cash from accounts receivable.
5. Paid $210,000 on accounts payable.
6. Paid $46,000 of salaries expense for the year.

Edmonds, Thomas (2011-01-28). Survey of Accounting (Page 192). Business And Economics. Kindle Edition.

What do you need? C'mon please. I was all ready to use my brain here.
Thanks.

Here is posted AMHD policy (written by CurlyBen), available to everyone who joins. You have to do your own homwork with "tweeks" from people who know.

"Read this first - Expectations for the Homework Help Board:
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