à Secure I https/www.mat Player est.astestld- 17449478 ACC 101 FALL 2017 OMALLEY
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à Secure I https/www.mat Player est.astestld- 17449478 ACC 101 FALL 2017 OMALLEY NB Test: FINAL EXAM This Question: 20 pts | 2016 (0 complete) During the last quarter of 2018, WT At September 30,2018, the accounts of West Terrace Medical Center (WTMC) include the following Accounts Receivable Allowance for Bad Debts (credit balance) (Click the icon to view the tran s 146,000 3,900 Read the requirements Requirement 1.Open T-accounts for Accounts Receivable and Allowance for Bad Debts Jounalize the transactions (omil explanations) and post to the two a Bagin by journalicing the transactions. (Record dobits first, then credits. Exclude explanations from journal entries) Sales on account $440,000 Ignore Cost of Goods Sold Accounts and Explanation Debit Credit Date 2018 Dec 31 More Into Sales on account $440,000 Ignore Collections on account, $335,200 Wrote off accounts receivable as un and Paradise, Inc 5400 Recorded bad debts expense based Collections on account $335,200 Date Accounts and Explanation Debit Credit 2018 Dec 31 Accounts Receivable Estimated percent uncollectible Choose from any ist or enter any number in the input tields and then continue to the next question Search WindowsExplanation / Answer
date Accounts & Explanation debit Credit 2018dec,31 Accoutns receivables A/c 4,40,000 To Sales A/c 4,40,000 (Being sales on account has been reocrded) 2018dec,31 cash A/c $335200 To Accounts receivables A/c $335200 (being accounts receivables has been received) 2018dec,31 Allowance for uncollectables A/c (1800+1100+400) $3300 To Accounts receivables A/c $3300 (Being Written off has been recorded) 2018dec,31 bnad debt expenses A/c $26705 To Allowance for uncollectables a/c $26705 (being Estimated Uncollecables has been recorded) Uncollectables A/c 1-30 Days 105000*0.2% 210 31-60 days 36000*2% 720 61-90 days 17000*20% 3400 Over 90 days 89500*25% 22375 Total uncollectables 26705 Accounts receivables A/c particulars Amount in $ particulars Amount in $ Opening Balances 146000 by Cash A/c 335200 Sales 440000 by Allowance for uncollectables 3300 By Balance 247500 586000 586000 Allowance for uncollectables A/c particulars Amount in $ particulars Amount in $ by Opening balances 3900 To Accounts receivabels 3300 By Bad debt Expenses 26705 Ending balance 27305 30605 30605
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