Business, 19.06.2020 12:57 oof78

At September 30, the accounts of East Terrace Medical Center (ETMC) include the following: Accounts Receivable $143,000
Allowance for Uncollectible Accounts (credit balance) 3,200
During October through December, ETMC completed the following selected transactions:
Dec. 28 Wrote off as uncollectible the $1,500 account receivable from Brown Co. and the $1,100 account receivable from Jacob Weiss.
Dec. 31 Recorded uncollectible-account expense based on the again of accounts receivable, which follows:
Age of Accounts
Accounts Receivable 1-30 Days 31-60 Days 61-90 Days Over 90 Days
$163,000 $100,000 $40,000 $ 14,000 $9,000
Estimated percent uncollectible 0.1% 1% 10% 30%
1. Record the transactions in the journal.
2. Open the Allowance for Uncollectible Accounts, and post entries affecting that account. Keep a running balance.
3. Show how East Terrace Medical Center should report accounts receivable on its balance sheet at December 31, 2007

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 06:30, brony2199

"in my opinion, we ought to stop making our own drums and accept that outside supplier's offer," said wim niewindt, managing director of antilles refining, n. v., of aruba. "at a price of $21 per drum, we would be paying $4.70 less than it costs us to manufacture the drums in our own plant. since we use 70,000 drums a year, that would be an annual cost savings of $329,000." antilles refining's current cost to manufacture one drum is given below (based on 70,000 drums per year):

Answers: 1

continue

Business, 22.06.2019 08:30, Maelynne8515

In risk management, what does risk control include? a. risk identification b. risk analysis c. risk prioritization d. risk management planning e. risk elimination need this answer now : (

Answers: 3

continue

Business, 22.06.2019 13:10, princessgabbee8452

Paid-in-capital in excess of par represents the amount of proceeds a. from the original sale of common stock b. in excess of the par value from the original sale of common stock c. at the current market value of the common stock d. at the curent book value of the common stock

Answers: 1

continue

Business, 22.06.2019 17:30, Envious1552

Gary lives in an area that receives high rainfall and thunderstorms throughout the year. which device would be useful to him to maintain his computer?

Answers: 2

continue

You know the right answer?

At September 30, the accounts of East Terrace Medical Center (ETMC) include the following: Accounts...