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i More Info Sales on account, $490,000. Ignore Cost of Goods Sold. Collections on account, $420,600 Wrote off accounts receivable as uncollectible: Roho Co., $1,300; Omar Smith, $950; and Placid, Inc., $650. 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 $ 105,000 $ 38,000 $ 16,000 $ 52,500 Accounts Receivable Estimated percent uncollectible 0.3% 3% 30% 35% At September 30, 2018, the accounts of East Terrace Medical Center (ETMC) include the following: During the last quarter of 2018, ETMC completed the following selected transactions: i (Click the icon to view the transactions.) Accounts Receivable Allowance for Bad Debts (credit balance) $ 145,000 3,100 Read the requirements Requirement 1. Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Journalize the transactions (omit explanations) and post to the two accounts. Begin by journalizing the transactions. (Record debits first, then credits. Exclude explanations from journal entries.) Sales on account, $490,000. Ignore Cost of Goods Sold. Date Accounts and Explanation Debit Credit 2018 Dec. 31 Collections on account, $420,600 Date Accounts and Explanation Debit Credit 2018 At September 30, 2018, the accounts of East Terrace Medical Center (ETMC) include the following: Quest Accounts Receivable During the last quarter of 2018, ETMC completed the following s transactions: i (Click the icon to view the transactions.) $ Allowance for Bad Debts (credit balance) 145,000 3,100 Read the requirements Collections on account, $420,600 Date Accounts and Explanation 2018 Debit Credit Dec. 31 Wrote off accounts receivable as uncollectible: Roho Co., $1,300; Omar Smith, $950; and Placid, Inc., $650. Date Accounts and Explanation Debit Credit 2018 Dec. 31 At September 30, 2018, the accounts of East Terrace Medical Center (ETMC) include the following: During the last quarter of 2018, ETMC completed the following selecte transactions: (Click the icon to view the transactions.) Accounts Receivable Allowance for Bad Debts (credit balance) $ 145,000 3,100 Read the requirements Wrote off accounts receivable as uncollectible: Roho Co., $1,300; Omar Smith, $950; and Placid, Inc., $650. Date Accounts and Explanation Debit Credit 2018 Dec. 3 v Recorded bad debts expense based on the aging of accounts receivable Date Accounts and Explanation Debit Credit 2018 Dec. 31 At September 30, 2018, the accounts of East Terrace Medical Center (ETMC) include the following: Question Hel: Accounts Receivable Allowance for Bad Debts (credit balance) During the last quarter of 2018, ETMC completed the following selected transactions: i (Click the icon to view the transactions.) $ 145,000 3,100 Read the requirements. Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Post the transactions to the two accounts. Accounts Receivable Allowance for Bad Debts Questi At September 30, 2018, the accounts of East Terrace Medical Center (ETMC) include the following: During the last quarter of 2018, ETMC completed the following se transactions: (Click the icon to view the transactions.) Accounts Receivable $ 145,000 Allowance for Bad Debts (credit balance) 3,100 Read the requirements. Allowance for Bad Debts Requirement 2. Show how East Terrace Medical Center should report net accounts receivable on its December 31, 2018, balance sheet. Balance Sheet (Partial): Current Assets
