1) | ||||||
Date | Account Titles | Debit | Credit | |||
31-Dec | Accounts Receivables | $ 400,000.00 | ||||
Sales Revenue | $ 400,000.00 | |||||
31-Dec | Cash | $ 391,200.00 | ||||
Accounts Receivables | $ 391,200.00 | |||||
31-Dec | Allowance for Bad Debts | $ 3,000.00 | ||||
Accounts Receivable—Silver, Co. | $ 1,200.00 | |||||
Accounts Receivable-Oliver Wetch | $ 1,400.00 | |||||
Accounts Receivable- Pristline | $ 400.00 | |||||
Bad debts Expenses (4512 - 600) | $ 3,912.00 | |||||
Allowance for Bad debts | $ 3,912.00 | |||||
1-30 days | 31-60 days | 61-90 days | over 90 days | Total | ||
Accounts receivable | 96000 | 36000 | 17000 | 800 | 149800 | |
Estimated % uncollectible | 0.20% | 2% | 20% | 25% | ||
Estimated total uncollectible | 192 | 720 | 3400 | 200 | 4512 | |
Allowance for Bad Debts | ||||||
3600 | 9/30 Bal | |||||
Wrote off | $ 3,000.00 | |||||
$ 600.00 | 12/31 bal | |||||
$ 3,912.00 | expense | |||||
$ 4,512.00 | 12/31 bal | |||||
Accounts Receivables | ||||||
9/30 Bal | $ 144,000.00 | $ 391,200.00 | collection | |||
$ 400,000.00 | ||||||
12/31 bal | $ 152,800.00 | |||||
2) | TERRACE MEDICAL CENTER | |||||
Balance Sheet Partial | ||||||
Assets | ||||||
Current Assets | ||||||
Accounts Recivables | $ 152,800.00 | |||||
Less: Allowance for Bad Debts | $ (4,512.00) | $ 148,288.00 |
the requirement is the instructions At September 30, 2018, the accounts of Park Terrace Medical Center...
help solve i More Info - Sales on account, $400.000. Ignore Cost of Goods Sold. . Collections on account. $391,200 Wrote off accounts receivable as uncollectible: Silver, Co., $1.200: Oliver Welch, $1.400; and Pristine, Inc., $400. Recorded bad debts expense based on the aging of accounts receivable, as follows: Age of Accounts Accounts Receivable Estimated percent uncollectible 1-30 Days 31-60 Days 61-90 Days Over 90 Days $ 96,000 S 36.000 S 17,000 $ 800 0.29 2% 2096 25 Print Done...
i Requirements Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Journalize the transactions (omit explanations) and post to the two accounts. Show how Park Terrace Medical Center should report net accounts receivable on its December 31, 2018. balance sheet. Print Al September 30, 2013, the accounts of Park Terrace Medical Center (PTMC) include the following During the last quarter of 2018, PTMC completed the following selected transactions Click the loan to view the transactions) Accounts Receivable Allowance for...
At September 30, 2018, the accounts of North Terrace Medical Center (NTMC) include the following $ Accounts Receivable Allowance for Bad Debts (credit balance) 145,000 3.900 During the last quarter of 2018 NTMC Click the icon to view the transactio Read the requirements Requirement 1. Open Taccounts for Accounts Receivable and Allowance for Bad Debts. Journalize the transactions (omit explanations) and post to the two ac Begin by journalizing the transactions. (Record debits first, then credits Exclude explanations from journal...
Requirement 1. Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Journalize the transactions (omit explanations) and post to the two accounts Begin by journalizing the transactions. (Record debits first, then credits. Exclude explanations from journal entries) Sales on account, $400,000. Ignore Cost of Goods Sold. Accounts and Explanation Debit Credit Dec. 31 Accounts Receivable 400.000 Ses Revenue 400,000 Choose from any list or enter any number in the input fields and then continue to the next question Collections...
A More Info • Sales on account, $420,000. Ignore Cost of Goods Sold. • Collections on account, $374,100 • Wrote off accounts receivable as uncollectible: Roho Co., $1,800; Owen Wilson, $900; and Paradise, Inc., $500. • Recorded bad debts expense based on the aging of accounts receivable, as follows: Age of Accounts Accounts Receivable Estimated percent uncollectible 1-30 Days 31-60 Days 61–90 Days Over 90 Days $ 95,000 $ 43,000 $ 16,000 $ 32,700 0.2% 2% 20% 25% A Requirements...
1. Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Journalize the transactions (omit explanations) and post to the two accounts. Show how Mountain Terrace Medical Center should report net accounts receivable on its December 31, 2018, balance sheet. 3. More Info • Sales on account, $420,000. Ignore Cost of Goods Sold. • Collections on account, $410,260 Wrote off accounts receivable as uncollectible: Raja Co., $1,200; Orvis Redd, $1,100; and Parket, Inc., $400. • Recorded bad debts expense based...
Please explain your answer. Thank you. P8-29A Accounting for uncollectible accounts using the allowance method (aging-of-receivables) and reporting receivables on the balance sheet Learning Objectives 1, 3 2. Allowance CR Bal. $8,482 at At September 30, 2018, the accounts of Green Terrace Medical Center (GTMC) include the following: Dec. 31, 2018 $ 145,000 Accounts Receivable Allowance for Bad Debts (credit balance) 3,500 During the last quarter of 2018, GTMC completed the following selected transactions: Sales on account, $450,000. Ignore Cost...
JUL 9 of 11 (9 complete) HW Score: 62.46%, 6.87 of 11 pts P8-29A (similar to) Question Help At September 30, 2018, the accounts of Mountain Terrace Medical Center (MTMC) include the following: During the last quarter of 2018, MTMC completed the following selected transactions Click the icon to view the transactions.) $ Accounts Receivable Allowance for Bad Debts (credit balance) 146,000 3,400 Read the requirements Requirement 1. Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Journalize the...
The Accounts Receivable balance and Allowance for Bad Debts for Spring Garden Plans Click the loon to view the transactions) December 31, 2017, was $10,000 and $2,000 (crede balance, respectively. During 2018, Spring Garden Pars completed the following transactions Read the t rents Requirement 1. Joumalize Spring Garden Plania's transactions for 2016 assuming Spring Garden Plans uses the lowance method. (Record debt first, then croors Select the explanation on the last line of the jumal entrybie Check your spelling carefully...
At January 1, 2018, Purple Mountain Flagpoles had Accounts Receivable of $27,000, and Allowance for Bad Debts had a credit balance of $3,000. During the year, Purple Mountain Flagpoles recorded the following: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize Purple's transactions that occurred during 2018. The company uses the allowance method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) (a.) Sales of $182,000 ($158,000 on...