Question

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 entries) Sales on account $400,000 Ignore Cost of Goods Sold Date Accounts and Explanation Debit Credit 2018 Dec 31 Choose from any list or enter any number in the input fields and then click Check Answer parts emaining Clear All Type here to search O i

Answer 1

Journal Entries

Date	Accounts and Explanation	Debit($)	Credit($)
2018 Dec 31	Accounts Receivables	400,000
	To Sales		400,000
	(being credit sales made)
	Cash	335,200
	To Accounts Receivables		335,200
	(being collection on account made)
	Allowances for Bad debt	3,100
	To Accounts receivables		3,100
	(being writing off uncollectible receivables)

Accounts Rceivables A/C

To balance b/d	145,000	By Cash	335,200
To Sales	400,000	By Allowances for bad debt	3,100
		By balance c/d	206,700

Allowances for Bad debt A/C

To Accounts receivable	3,100	By balance b/d	3,900
To balance c/d	800

Balance Sheet

Liabilities		Asset
		Acccounts Receivables	206,700
		Less: Allowances for Bad debts	(800)
			205,900