Question
Dr. Bob Zimmerman, M.D. maintains the accounting records of the Wellness Center on a cash basis. During the year, Dr. Zimmerman collected $302,570 from his
Dr. Bob Zimmerman, M.D. maintains the accounting records of the Wellness Center on a cash basis. During the year, Dr. Zimmerman collected $302,570 from his patients and paid $91,545 in expenses. Information regarding the amount of receivables (accrued revenues), unearned revenues, payables for accrued expenses, and prepaid expenses is as follows:
|
| Balance at Beginning of Year | Balance at End of Year |
| Accounts Receivable | $52,685 | $46,940 |
| Unearned Revenues | $2,751 | $3,055 |
| Accrued Payables | $5,401 | $5,367 |
| Prepaid Expenses | $5,860 | $4,541 |
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Financial and Managerial Accounting the basis for business decisions
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
17th edition
007802577X, 978-0078025778
