At September 30​, 2024​,the accounts of West Terrace Medical Center (WTMC​) include the​ following:   Accounts Receivable $146,000 Allowance for Bad Debts (credit balance) 3,800 Open​ T-accounts for Accounts Receivable and Allowance for Bad Debts. Journalize the transactions​ (omit explanations) and post to the two accounts. Sales on​ account,$420,000. Ignore Cost of Goods Sold. Collections on​ account, $389,250. Wrote off accounts receivable as​ uncollectible: Stellar Co​, $1,200 ​; Orvis Redd 1,100​​; and ​Pristine, Inc. $750. Recorded bad debts expense based on the aging of accounts receivable.   PART 2: Open​ T-accounts for Accounts Receivable and Allowance for Bad Debts. Post the transactions to the two accounts.   Accounts Receivable                                 Allowance for Bad Debts                         Requirement 2. Show how West Terrace Medical Center should report net accounts receivable on its December 31​, 2024​, balance sheet.   Balance Sheet (Partial):       Current Assets:

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On May 15, Baxtor, Inc. sold $26,000 of merchandise to James, on account. Baxtor could not collect cash from James and wrote off the account. What is the journal entry to record the write-off, assuming Baxtor uses the allowance method? Bad Debt Expense $26,000 Miscellaneous Bank Fees $26,000 Allowance for Bad Debts $26,000 Accounts Receivable - James Allowance for Bad Debts $26,000 Utility Expense $26,000 $26.000 Bad Debt Revenue $26,000 Allowance for Bad Faith Unpaid Accounts $26,000

3. Grump Computer has credit sales of $400,000 in 2023 and a debit balance of $300 in the Allowance for Doubtful Accounts at year end. As of December 31, 2023, $120,000 of accounts receivable remain uncollected. The credit manager of Grump prepared an aging schedule of accounts receivable and estimates that $5,200 will prove to be uncollectible. On March 4, 2024 the credit manager authorizes a write-off of the $1,000 balance owed by A. Shard. Required (a) Prepare the adjusting entry to record the estimated uncollectible accounts expense in 2023. (b) Show the statement of financial position presentation of accounts receivable on December 31, 2023: (c) On March 4, before the write-off, assume the balance of Accounts Receivable account is $160,000 and the balance of Allowance for Doubtful Accounts is a credit of $4,000. Make the appropriate entry to record the write-off of the Shard account. Also show the statement of financial position presentation of accounts receivable before and after…

The beginning balance in the Allowance for Uncollectible Accounts account is a $3,500 credit. After conducting an aging analysis, management has determined that $11,700 of accounts receivable will be uncollectible. What is the ending balance in the Allowance for Uncollectible Accounts account?   $11,700     $3,500     $15,200     $8,200

The following information is from the records of Mountainview Camera Shop: Accounts receivable, December 31, 2018 Net credit sales for 2018 Accounts written off as uncollectible during 2018 15,000 Cash sales during 2018 41,000 The company uses the direct write-off method for bad debts. What is the amount of bad debts expense? OA. $62,000 B. $41,000 C. $15,000 D. $83,000 $83,000 (debit) 160,000

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TB MC Qu. 5-122 (Algo) At December 31, Amy Jo's Appliances... At December 31, Basu's Appliances had account balances in Accounts Receivable of $318,000 and in Allowance for Uncollectible Accounts of $630 (credit) before adjustment. An analysis of Basu's December 31 accounts receivable suggests that the allowance for uncollectible accounts should be 4% of accounts receivable. Bad debt expense for the year should be: Multiple Choice $12,720. $13,350. $13,391. $12,090.

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