1 answer

Required information (The following information applies to the questions displayed below.) Pearl E. White Orthodontist specializes...

Question:

Required information (The following information applies to the questions displayed below.) Pearl E. White Orthodontist specia

Required information (The following information applies to the questions displayed below.) Pearl E. White Orthodontist specializes in correcting misaligned teeth. During 2021, Pearl provides services on account of $579,000. Of this amount. $69,000 remains receivable at the end of the year. An aging schedule as of December 31, 2021. is provided below. Estimated Percent Uncollectible Age Group Not yet due 0-90 days past due 51-180 days past due More than 180 days past due Total Amount Receivable $29,000 14,900 9,900 15,200 $69,000 154 20$ Part 2 of 4 (The following information applies to the questions displayed below) 15 points Pearl E. White Orthodontist specializes in correcting misaligned teeth. During 2021, Pearl provides services on account of $579,000. Of this amount, $69,000 remains receivable at the end of the year. An aging schedule as of December 31, 2021, is provided below Estimated Percent Uncollectible eBock Age Group Not yet due 0-90 daya past due 91-180 days past due More than 180 days past due Total Amount Receivable $29,000 14,900 9,900 15,200 $69,000 154 20% a58 Print References 2. Record the December 31, 2021, adjusting entry, assuming the balance of Allowance for Uncollectible Accounts before adjustment is $3,900 (credit). (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction ist View journal entry worksheet No General Journal Debit Credit Date December 31, 2021 Bad Debt Expense Allowance for Uncollectible Accounts Required information (The following information applies to the questions displayed below.) Pearl E. White Orthodontist specializes in correcting misaligned teeth. During 2021, Pearl provides services on account of $579.000. Of this amount, $69.000 remains receivable at the end of the year. An aging schedule as of December 31, 2021. is provided below. Estimated Percent Uncollectible Age Group Not yet due 0-90 days past due 91-180 days past due More than 180 days past due Total Amount Receivable $29,000 14,900 9,900 15, 200 $69,000 15% 204 854 .On September 30, 2022, the customer whose account was written off in part 3 unexpectedly pays the full amount. Record the cash ollection. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the entry to re-establish account previously written off. Note: Enter debits before credits. General Journal Debit Credit Date September 30, 2022 Record entry Clear entry View general journal Required information (The following information applies to the questions displayed below.] Pearl E. White Orthodontist specializes in correcting misaligned teeth. During 2021, Pearl provides services on account of $579,000. Of this amount, $69,000 remains receivable at the end of the year. An aging schedule as of December 31, 2021, is provided below. Estimated Percent Uncollectible Age Group Not yet due 0-90 days past due 91-180 daye past due More than 180 days past due Total Amount Receivable $29,000 14,900 9,900 15,200 $69,000 15$ 203 B5% 4. On September 30, 2022, the customer whose account was written off in part 3 unexpectedly pays the full amount. Record the cash collection. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 Record cash received on account. Note: Enter debits before credits. Date General Journal Debit Credit September 30, 2022 Record entry Clear entry View general journal

Answers

2.

Age Interval Receivables % Uncollectible Allowance
Not yet due $           29,000 4% $              1,160
0-90 days past due $           14,900 15% $              2,235
91-180 days past due $              9,900 20% $              1,980
More than 180 days past due $           15,200 85% $           12,920
Total $           69,000 $           18,295
Account Titles Debit Credit
Bad Debt Expense $        14,395
        Allowance for Doubtful Accounts $        14,395

4.

Account Titles Debit Credit
Accounts Receivable
        Allowance for Doubtful Accounts
Cash
       Accounts Receivable

Since amount for write off is not given, amounts could not be entered. Use amount given in point 3.

If you have any query, kindly comment with your query and please mark thumbs up.

.

Similar Solved Questions

1 answer
Hydrostatic Balance equation applied to planet interior structure: For lower mass rocky planets up to a...
Hydrostatic Balance equation applied to planet interior structure: For lower mass rocky planets up to a few times the mass of the Earth, one can assume that the density p of the material making the planet is constant at any radius through the planet's interior. We want to evaluate the pressure a...
1 answer
A rifle with a muzzle velocity of Vo shoots a bullet at a target R ft away
A rifle with a muzzle velocity of Vo shoots a bullet at a target R ft away. How high above the target must the rifle be aimed so that the bullet will hit the target?...
1 answer
Background pertinent to this problem is available in Interactive LearningWare 18.3. A uniform electric field exists...
Background pertinent to this problem is available in Interactive LearningWare 18.3. A uniform electric field exists everywhere in the x, y plane. This electric field has a magnitude of 5600 N/C and is directed in the positive x direction. A point charge -8.9 × 10-9 C is placed at the origin. F...
1 answer
< Question 3 of 3 > Ammonia, NH, reacts with oxygen to form nitrogen gas and...
< Question 3 of 3 > Ammonia, NH, reacts with oxygen to form nitrogen gas and water. 4NH, (aq) + 30,(g) + 2N (8) + 6 H,0(1) If 2.45 g of NH, reacts with 3.68 g of O, and produces 0.850 L of N, at 295 K and 1.00 atm, which reactant is limiting? O NH3(aq) O 02(8) What is the percent yield of the ...
1 answer
Predict all products HO CHCHOH Sul СОН Na. Co -OH HI H,SO PCC mem он он...
predict all products HO CHCHOH Sul СОН Na. Co -OH HI H,SO PCC mem он он Jones Nal NaOH NaOH, CH3OH -S2 ch - e-cly of c...d- S,2 thy s CH E1 КОН Ethanol...
1 answer
1. Steve Fowler borrowed $94,900 on March 1, 2018. This amount plus accrued interest at 6%...
1. Steve Fowler borrowed $94,900 on March 1, 2018. This amount plus accrued interest at 6% compounded semiannually is to be repaid March 1, 2028. To retire this debt, Steve plans to contribute to a debt retirement fund five equal amounts starting on March 1, 2023, and for the next 4 years. The fund ...
1 answer
A flywheel with a radius of 0.300 m starts from rest and accelerates with a constant angular acce...
A flywheel with a radius of 0.300 m starts from rest and accelerates with a constant angular acceleration of 0.200 rad/ s 2 . Part A Compute the magnitude of the tangential acceleration of a point on its rim at the start. Part B Compute the magnitude of the radial acceleration of a point on its rim ...
1 answer
Suppose that patients arrive at an emergency room at the rate of X-50 per day. i....
Suppose that patients arrive at an emergency room at the rate of X-50 per day. i. What is the expected time (in hours) for 10 new patients to arrive. ii. What is the probability that an hour goes by without a new patient arriving?...
1 answer
Condensed balance sheet and income statement data for Pina Corporation are presented here. PINA CORPORATION Balance...
Condensed balance sheet and income statement data for Pina Corporation are presented here. PINA CORPORATION Balance Sheets December 31 2017 2016 2015 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) $ 32,000 22,000 $20,000 47,00050,000 97,000 102,00071,000 77...
1 answer
SECTION C – ESSAY TYPE QUESTIONS. [40 MARKS] Answer ALL questions in this section. Question 1...
SECTION C – ESSAY TYPE QUESTIONS. [40 MARKS] Answer ALL questions in this section. Question 1 (15 Marks) Toteng Communications (Pty) Ltd (TCL) is registered as an employer with the Botswana Unified Revenue Service (BURS). In addition to paying salaries and wages to its employees, TCL also prov...
1 answer
What force is required to keep a steel block in motion, if the steel block weighs...
What force is required to keep a steel block in motion, if the steel block weighs 22 kg and is sliding on ice? The coefficient of static friction for steel on ice is 0.10 and the coefficient of kinetic friction for steel on ice is 0.020....
1 answer
A) b) What is the final major product expected for the following reaction sequence? 1) H2,...
a) b) What is the final major product expected for the following reaction sequence? 1) H2, Ni2B (P-2)2) C2 CCI4 meso-3,4-dichlorohexane ()-3,4-dichlorohexane (R)-3-chlorohexane 2,3-dichloro-3-hexene (S)-3-chlorohexane o 0 What is the final major product expected for the following reaction sequence...
1 answer
1. (30%) ABC company can invest $10 million in a new plant for producing bread jam....
1. (30%) ABC company can invest $10 million in a new plant for producing bread jam. The plant has an expected life of 5 years, and expected sales are 6 million jars of jam a year. Fixed costs are $2 million a year, and variable costs are $1 per jar. The product will be priced at $2 per jar. The plan...
1 answer
The shaft is hollow from A to B and solid from B to C. The shaft...
The shaft is hollow from A to B and solid from B to C. The shaft has an outer diameter of 82 mm, and the thickness of the wall of the hollow segment is 10 mm. (Figure 1) Part A Determine the maximum shear stress developed in the shaft. Express your answer to three significant figures and include the...
1 answer
What is your opportunity cost of taking this economics course at Berkeley College? How does the...
What is your opportunity cost of taking this economics course at Berkeley College? How does the role of scarcity influence decisions that you have to make?...
1 answer
Use the Maxwell relations to express the following derivatives in terms of the expansion coefficient a,...
Use the Maxwell relations to express the following derivatives in terms of the expansion coefficient a, the isothermal compressibility KT, and heat capacities av а. as as b. дV...
1 answer
How do you solve #11\times 7\div 2#?
How do you solve #11\times 7\div 2#?...