please help! Pearl E White Orthodontist specializes in correcting...

70.2K

Verified Solution

Question

Accounting

please help!
image
image
image
Pearl E White Orthodontist specializes in correcting misaligned teeth. During 2024, Pearl provides services on account of $571,000. Of this amount, $61,000 remains recelvable at the end of the year. An aging schedule as of December 31,2024 , is provided below. Required: 1. Calculote the allowance for uncollectible accounts 2. Record the December 31, 2024, adjusting entry, assuming the balance of Allowance for Uncollectible Accounts before adjustment is $3,100 (credih). 3. On July 19, 2025, a customer's occount balance of $6,100 is written off as uncollectible. Record the write-off. 4. On September 30, 2025, the customer whose account was written off in requirement 3 unexpectedly pays the full amount. Record the cash collection. Complete this question by entering vour answers in the tabs below. Calculate the allowance for uncollectible accounts. Peorl E. White Orthodontist specializes in correcting misaligned teeth. During 2024, Pearl provides services on account of $571,000. Of this amount, $61,000 remains recelvable at the end of the year. An oging schedule as of December 31,2024 , is provided below, Required: 1. Calculate the allowance for uncollectible accounts. 2. Record the December 31, 2024, adjusting entry, assuming the balance of Allowance for Uncollectible Accounts before adjustment is $3,100 (credit). 3. On July 19,2025 , o customer's occount balance of $6,100 is written off as uncollectible. Record the write-off. 4. On September 30, 2025, the customer whose occount wo5 written off in requirement 3 unexpectedly pays the full amourt Record the cash collection. Complete this question by entering your answers in the tabs below. 2. Record the December 31, 2024, adjusting entry, assuming hove balance of Allowance for Uncollectible Accounts before adjustment is $3,100 (credit). 3. On July 19, 2025, a customer's account balance of $6,100 is written off as uncollectible. Record the write-off. 4. On September 30, 2025, the customer whose account was written off in requirement 3 unexpectedly pays the full amount. Record the cash collection. (Note: If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 2. Record the December 31, 2024, adjusting entry, assuming the balance of Allowance for Uncollectible Accounts before adjustment is $3,100 (credit). 3. On July 19, 2025, a customer's account balance of $6,100 is written off as uncollectible, Record the write-off. 4. On September 30,2025 , the customer whose account was written off in reguirement 3 unecpectedly pays the full amount. Record the cash collection. (Note: If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 4 Record the adjusting entry for uncollectible accounts. Neter Enter debits before credits

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students