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The September 30, 2019, records of Media Communications include these accounts: (Click the icon to view the September 30, 2019 account balances.) During the year, Media Communications estimates Uncollectible-account expense at 1% of credit sales. At year-end (December 31), the company ages its receivables and adjusts the balance in the Allowance for Uncollectible Accounts to correspond to the following aging schedule. (Click the icon to view the Accounts Receivable balance and aging schedule to be used at December 31, 2019.)...
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please help me solve requirements for this problem
The September 30, 2019, records of First Data Communications include these accounts: (Click the icon to view the September 30, 2019 account balances.) During the year. First Data Communications estimates Uncollectible-account expense at 1% of credit sales. At year-end (December 31), the company ages its receivables and adjusts the balance in the Allowance for Uncollectible Accounts to correspond to the following aging schedule. (Click the icon to view the Accounts Receivable balance...
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Accounts Receivable and aging schedule to be used at December 31, 2019 Age of Accounts Accounts Receivable 1-30 Days 31-60 Days 61-90 Days Over 90 Days $ 233,000 $ 139,000 $ 53,000 $ 11,000 $ 30,000 Estimated percent uncollectible 0.2% 2% 15% 35% Print Done The September 30, 2019, records of Perfecto Communications include these accounts: (Click the icon to view the September 30, 2019 account balances.) During the last quarter of 2019, the company completed the following selected transactions:...
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stibles) The tibles) The Septer May 31, 20X7. P5-76B. (Learning Objective 4: Using the aging approach for uno 30, 20X7, records of Image Communications include these account Accounts receivable........ Allowance for doubtful accounts....... €290,000 (9,700) At year-end, the company ages its receivables and adjusts the balance in Allowance for Doubtful Accounts to correspond to the aging schedule. During the last quarter of 20X7. the company completed the following selected transactions: MOD Dec. 28 Wrote off as uncollectible the €1,300 account...
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the
requirement is the instructions
At September 30, 2018, the accounts of Park Terrace Medical Center (PTMC) following: Accounts Receivable $ 144,000 Allowance for Bad Debts (credit balance) During the last quarter of 2018, PTMC completed the following selected transactions (Click the icon to view the transactions.) Read the as 3.600 Requirement 1. Open Taccounts 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...
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Requirement 1. Record the transactions for the
last quarter of 2019 in the journal. Explanations are not
required.
Requirement 2. Prepare a T-account for
Allowance for Uncollectible Accounts with the appropriate beginning
balance. Post the entries from Requirement 1 to that account.
Open the T-account by posting the beginning balance. Then post
the entries to the Allowance for Uncollectible Accounts T-account
and calculate the ending balance.
Requirement 3. Show how
Perfecto CommunicationsPerfecto Communications will report its
accounts receivable in a...
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des a September 30 The bank statement lists The accountant has a. The Cash account shows a balance of $10,912. This amount includes a Septe deposit of $3.994 that does not appear on the September 30 bank statemen D. The September 30 bank statement shows a balance of $8,324. The bank $200 bank collection, a $13 service charge, and a $41 NSF check. The accom not recorded any of these items. c. At September 30, the following checks are outstanding:...
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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...
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Consider the following analysis of Accounts Receivable, February 28, 20XO: Click the icon to view the data.) Requirement 1. Prepare an aging schedule, classifying ages into four categories: 1 to 30 days, 31 to 60 days, 61 to 90 days, and over 90 days. Assume that the prospective bad debt percentages for each category are 8%, 12%, 22%, and 40%, respectively. What is the ending balance in the Allowance for Uncollectible Accounts? Requirement 1. Prepare an aging schedule, classifying ages...
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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...
The September 30, 2019, records of Media Communications include these accounts: (Click the icon to view the September 30, 2019 account balances.) During the year, Media Communications estimates Uncollectible-account expense at 1% of credit sales. At year-end (December 31), the company ages its receivables and adjusts the balance in the Allowance for Uncollectible Accounts to correspond to the following aging schedule. (Click the icon to view the Accounts Receivable balance and aging schedule to be used at December 31, 2019.)...
please help me solve requirements for this problem
The September 30, 2019, records of First Data Communications include these accounts: (Click the icon to view the September 30, 2019 account balances.) During the year. First Data Communications estimates Uncollectible-account expense at 1% of credit sales. At year-end (December 31), the company ages its receivables and adjusts the balance in the Allowance for Uncollectible Accounts to correspond to the following aging schedule. (Click the icon to view the Accounts Receivable balance...
Accounts Receivable and aging schedule to be used at December 31, 2019 Age of Accounts Accounts Receivable 1-30 Days 31-60 Days 61-90 Days Over 90 Days $ 233,000 $ 139,000 $ 53,000 $ 11,000 $ 30,000 Estimated percent uncollectible 0.2% 2% 15% 35% Print Done The September 30, 2019, records of Perfecto Communications include these accounts: (Click the icon to view the September 30, 2019 account balances.) During the last quarter of 2019, the company completed the following selected transactions:...
stibles) The tibles) The Septer May 31, 20X7. P5-76B. (Learning Objective 4: Using the aging approach for uno 30, 20X7, records of Image Communications include these account Accounts receivable........ Allowance for doubtful accounts....... €290,000 (9,700) At year-end, the company ages its receivables and adjusts the balance in Allowance for Doubtful Accounts to correspond to the aging schedule. During the last quarter of 20X7. the company completed the following selected transactions: MOD Dec. 28 Wrote off as uncollectible the €1,300 account...
the
requirement is the instructions
At September 30, 2018, the accounts of Park Terrace Medical Center (PTMC) following: Accounts Receivable $ 144,000 Allowance for Bad Debts (credit balance) During the last quarter of 2018, PTMC completed the following selected transactions (Click the icon to view the transactions.) Read the as 3.600 Requirement 1. Open Taccounts 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...
Requirement 1. Record the transactions for the
last quarter of 2019 in the journal. Explanations are not
required.
Requirement 2. Prepare a T-account for
Allowance for Uncollectible Accounts with the appropriate beginning
balance. Post the entries from Requirement 1 to that account.
Open the T-account by posting the beginning balance. Then post
the entries to the Allowance for Uncollectible Accounts T-account
and calculate the ending balance.
Requirement 3. Show how
Perfecto CommunicationsPerfecto Communications will report its
accounts receivable in a...
des a September 30 The bank statement lists The accountant has a. The Cash account shows a balance of $10,912. This amount includes a Septe deposit of $3.994 that does not appear on the September 30 bank statemen D. The September 30 bank statement shows a balance of $8,324. The bank $200 bank collection, a $13 service charge, and a $41 NSF check. The accom not recorded any of these items. c. At September 30, the following checks are outstanding:...
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...
Consider the following analysis of Accounts Receivable, February 28, 20XO: Click the icon to view the data.) Requirement 1. Prepare an aging schedule, classifying ages into four categories: 1 to 30 days, 31 to 60 days, 61 to 90 days, and over 90 days. Assume that the prospective bad debt percentages for each category are 8%, 12%, 22%, and 40%, respectively. What is the ending balance in the Allowance for Uncollectible Accounts? Requirement 1. Prepare an aging schedule, classifying ages...
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...