At September 30, 2018, the accounts of Park Temace Medical Center (PTMC) include the following Accounts Receivable $ 144.000 Allowance for Bad Debes (credit balance) 4.000 During the last quarter of 2018, PTMC completed the following selected transactio (Click the icon to view the transactions) Read the Requirement 1. Open T-accounts for Accounts Receivable and Allowance for Bad Debts Joumalze the transactions (omit explanations) and post to t Begin by journalizing the transactions (Record debts first, then credits Exclude explanations from joomal entries) Sales on account $420.000 Ignore Cost of Goods Sold Date 2018 Dec. 31 Accounts and Explanation Debit Credit D At September 30, 2018, the accounts of Park Terrace Medical Center (PTMC) include the following Accounts Receivable Allowance for Bad Debts (credit balance) $ 144,000 4,000 During the last quarter of 2018, PIMC completed the following selected transactions (Click the icon to view the transactions) Read the reavements Collections on account, $391.200 Date Accounts and Explanation Debit Credit b 2010 G Dec. 31 + Wrote off accounts receivable as uncollectible: Red Co. $1,900, Orvis Redd, $1,200, and Parker, Inc. $600 Date Accounts and Explanation Debit Credit 9 Accounts Receivable $ 144,000 Allowance for Bad Debts (credit balance) 4,000 TEDD Wrote off accounts receivable as uncollectible: Red Co., $1,900; Orvis Redd, $1,200; and Parker, Inc., $600. Date 2018 Dec 31 Accounts and Explanation Debit Recorded bad debts expense based on the aging of accounts receivable Date Accounts and Explanation Credit Debit Credit Read the requireme Allowance for Bad Debts (credit balance) 4,000 Recorded bad debts expense based on the aging of accounts receivable Date 2018 Dec 31 Accounts and Explanation Debit Credit Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Post the transactions to the two accounts. Accounts Receivable. Read the requirement Allowance for Bad Debts (credit balance) 4,000 Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Post the transactions to the two accounts. Accounts Receivable Allowance for Bad Debts. Read the requirements Allowance for Bad Debts (credit balance) 4,000 Read the requirements Allowance for Bad Debts Requirement 2. Show how Park Terrace Medical Center should report net accounts receivable on its December 31, 2018, balance sheet Balance Sheet (Partial): Current Assets More info Sales on account, $420,000. Ignore Cost of Goods Sold. Collections on account, $391,200 Wrote off accounts receivable as uncollectible: Red Co., $1,900; Orvis Redd, $1,200, and Parker, Inc., $600. Recorded bad debts expense based on the aging of accounts receivable, as follows: Age of Accounts 1-30 Days 31-60 Days 61-90 Days Over 90 Days Accounts Receivable $ 102,000 $ Estimated percent uncollectible 0.2% 36,000 $ 2% Print Done 17.000 S 20% 14,100 25% X he following selected transactions 44,0 4,0 Requirements sho Ting the last quarter of 2018, PIMC completed the following selected tra pns.) -X 1. Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Journalize the transactions (omit explanations) and post to the two accounts. 3. Show how Park Terrace Medical Center should report net accounts receivable on its December 31, 2018, balance sheet Print Done