FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Pearl E. White Orthodontist specializes in correcting misaligned teeth. During 2021, Pearl provides services on account of $578,000. Of this amount, $68,000 remains receivable at the end of the year. An aging schedule as of December 31, 2021, is provided below.
Age Group | Amount Receivable |
Estimated Percent Uncollectible | ||||||
Not yet due | $ | 28,000 | 5 | % | ||||
0-90 days past due | 14,800 | 10 | % | |||||
91–180 days past due | 9,800 | 30 | % | |||||
More than 180 days past due | 15,400 | 80 | % | |||||
Total | $ | 68,000 | ||||||
3. On July 19, 2022, a customer’s account balance of $6,800 is written off as uncollectible. Record the write-off. (If no entry is required for a particular transaction/event, select "No
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