Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Required Information [The following information applies to the questions displayed below) Pearl E. White Orthodontist specializes in correcting misaligned teeth. During 2021, Peor provides services

image text in transcribed
image text in transcribed
image text in transcribed
Required Information [The following information applies to the questions displayed below) Pearl E. White Orthodontist specializes in correcting misaligned teeth. During 2021, Peor provides services on account of $572,000. Of this amount, $62,000 remains receivable at the end of the year. An aging schedule as of December 31 2021, is provided below. Age Group Not yet due 0-90 days pant due 91-180 days past due More than 180 days past due Total noun Receivable $22,000 14.200 9.200 16,600 562,000 Estimated Percent Uncollectible 58 105 304 805 4. On September 30, 2022, the customer whose account was written off in part 3 unexpectedly pays the full amount. Record the cash collection (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 1 2 Record the entry to re-establish account previously written off. Note: Enter debits before credits. Date General Journal Debit Credit September 30, 2022 Record entry Clear entry Vlow general Journal Journal entry worksheet 1 2 Record cash received on account. Note: Enter debits before credits Date General Journal Debit Credit September 30, 2022 Record entry Clear entry View general Journal Required Information [The following information applies to the questions displayed below) Pearl E. White Orthodontist specializes in correcting misaligned teeth. During 2021, Peor provides services on account of $572,000. Of this amount, $62,000 remains receivable at the end of the year. An aging schedule as of December 31 2021, is provided below. Age Group Not yet due 0-90 days pant due 91-180 days past due More than 180 days past due Total noun Receivable $22,000 14.200 9.200 16,600 562,000 Estimated Percent Uncollectible 58 105 304 805 4. On September 30, 2022, the customer whose account was written off in part 3 unexpectedly pays the full amount. Record the cash collection (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 1 2 Record the entry to re-establish account previously written off. Note: Enter debits before credits. Date General Journal Debit Credit September 30, 2022 Record entry Clear entry Vlow general Journal Journal entry worksheet 1 2 Record cash received on account. Note: Enter debits before credits Date General Journal Debit Credit September 30, 2022 Record entry Clear entry View general Journal

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

9781285586618

Students also viewed these Accounting questions