accounts of East Terrace Medical Centor (ETMC) During the last quarter of 2016,
ID: 2549977 • Letter: A
Question
accounts of East Terrace Medical Centor (ETMC) During the last quarter of 2016, ETMC comploted the follo Cilekthe cn o viaw the ransactions) $ 143,000 More Info Dec. 28 Wrote off acounts receivable as uncollectible: Regan, Co., $1,100, Owen Wilson, $700; and Paradise, Inc., $500. 31 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 $ 96,000 42,000 $ 15,000 10,000 Accounts Receivable Estimated percent uncollectible 0.3% 3% 30% 35% Print Done ter any number in the input fields and then continue to the next question. 30 MacBook AirExplanation / Answer
Estimated bad debts over 1-30 days 31-60 days 61-90days 90 days total Accounts receivable 96,000 42,000 15,000 10,000 Estimated percent uncolectible 0.30% 3% 30% 35% Estimated bad debts 288 1260 4500 3500 9548 journal Entries Date Accounts and explanations Debit Credit 28-Dec Allowance for Bad debts 2300 Account receivable 2,300 31-Dec Bad debts expense 8748 Allowance for bad debts 8,748 9,548 - (3100-2300) Allowance for Bad debts 28-Dec 2,300 1-Sep BB 3,100 dec 31 uandjusted bal 800 Dec 31 adjusting entry 8,748 Dec 31 end bal 9548 Balance sheet(partial) current Assetsl Account receivable 140700 Allowance for bad debts 9,548 131,152
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