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Smith Dental Group started 2018 with Accounts receivable of $129,000 and a credit balance of $12,000 in Allowance for uncollectible accounts. The following information relates
Smith Dental Group started 2018 with Accounts receivable of $129,000 and a credit balance of $12,000 in Allowance for uncollectible accounts. The following information relates to Smith Dental's 2018 operations: (Click the icon to view the information.) Journalize Smith's 2018 transactions based on the information provided. Prepare a T-account for the Allowance for uncollectible accounts to show your computation of Bad debt expense for the year. Journalize Smith's 2018 transactions. (Record debits first, then credits. Exclude explanations from any journal entries.) a. Credit sales, $493,000. Journal Entry Accounts Debit Credit a. More Info a. Credit sales, $493,000. b. Collections on account, $309,000. C. Write-offs of uncollectibles, $10,000. d. At December 31, the aging of accounts receivable showed that Smith will probably not collect $8,500 of its accounts receivable. Print Done
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