Peterson Dental Group started 2018 with Accounts receivable of $125,000 and a credit balance of...
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Peterson Dental Group started 2018 with Accounts receivable of $125,000 and a credit balance of $9,000 in Allowance for uncollectible accounts. The following information relates to Peterson Dental's 2018 operations: (Click the icon to view the information.) Journalize Peterson's 2018 transactions based on the information provided. Prepare a T-account for the Allowance for uncollectible accounts to show your computation of Bad debt expense for the year. b. Cash 310,000 Accounts receivable 310,000 c. Write-offs of uncollectibles, $14.000. Journal Entry Accounts Credit Debit 14,000 * More Info Allowance for uncollectible accounts Accounts receivable 14,000 a. Credit sales. $538,000. b. Collections on account, $310,000. c. Write-offs of uncollectibles, $14,000. d. Al December 31, the aging of accounts receivable showed that Peterson will probably not collect $7,900 of its accounts receivable. d. At December 31, the aging of accounts receivable showed that Peterson will probably not collect $7.900 of its accounts receivable. Start by preparing a T-account for the Allowance for uncollectible accounts to show your computation of bad debt expense for the year. Allowance for uncollectible accounts Print Done
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