(L.OBJ. 3, 5) Accounting for uncollectible accounts using the allowance method, and reporting receivables on the balance sheet [25-35 min]
At September 30, 2011, the accounts of East Terrance Medical Center (ETMC) include the following:
Requirements
1. Journalize the transactions.
2. Open the Allowance for uncollectible accounts T-account, and post entries affecting that account. Keep a running balance.
3. Show how East Terrance Medical Center should report accounts receivable on its December 31, 2011, balance sheet. Use the three line reporting format.
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