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At September 30,2024 , the accounts of Mountain Terrace Medical Center (MTMC) include the following: During the last quarter of 2024, MTMC complete the following
At September 30,2024 , the accounts of Mountain Terrace Medical Center (MTMC) include the following: During the last quarter of 2024, MTMC complete the following selected transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize the transactions (omit explanations). The T-accounts for Accounts Receivable and Allowance for Bad Debts have been opened for you. Post the transactions to the two T-accounts. Begin by journalizing the transactions. (Record debits first, then credits. Exclude explanations from journal entries.) Sales on account, $480,000. Ignore Cost of Goods Sold. More info - Sales on account, $480,000. Ignore Cost of Goods Sold. - Collections on account, $420,600 - Wrote off accounts receivable as uncollectible: Raja Co., $1,600; Owen Wilson, $1,200; and Parker, Inc., $400. - Recorded bad debts expense based on the aging of accounts receivable, as follows: Requirements 1. Journalize the transactions (omit explanations). The T-accounts for Accounts Receivable and Allowance for Bad Debts have been opened for you. Post the transactions to the two T-accounts. 2. Show how Mountain Terrace Medical Center should report net accounts receivable on its December 31,2024 , balance sheet
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