At September 30, 2024, the accounts of Green Terrace Medical Center (GTMC) include the following:

During the last quarter of 2024, GTMC completed the following selected transactions:

Requirements
1. Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Journalize the transactions (omit explanations) and post to the two accounts.
2. Show how Green Terrace Medical Center should report net accounts receivable on its December 31, 2024, balance sheet.

Transcribed Image Text:

Accounts Receivable Allowance for Bad Debts (credit balance) $ 145,000 3,500