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Facial Cosmetics provides plastic surgery primarily to hide the appearance of unwanted scars and other blemishes. During 2021, the company provides services of $408,000
Facial Cosmetics provides plastic surgery primarily to hide the appearance of unwanted scars and other blemishes. During 2021, the company provides services of $408,000 on account. Of this amount, $58,000 remains uncollected at the end of the year. An aging schedule as of December 31, 2021, is provided below. Estimated Age Group Not yet due 0-30 days past due 31-60 days past due More than 60 days past due Total Amount Receivable Percent Uncollectible $38,000 4% 10,800 68 7,800 126 1,400 $58,000 30% Problem 5-4B Part 4 4. On July 17, 2022, the customer whose account was written off in Part 3 unexpectedly pays $100 of the amount but does not expect to pay any additional amounts. Record the cash collection. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the entry to re-establish account previously written off. < Prev 84 of 6 Next >
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