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 $584,000. Of this amount, $74,000 remains receivable at the end of the year. An aging schedule as of December 31, 2021, is provided below. Estimated Amount Percent Age Group Not yet due 0-90 days past due 91-180 days past due More than 180 days past due Receivable Uncollectible $34,000 4% 20% 15,400 10,400 14,200 $74,000 25% 80% Total 2. Record the December 31, 2021, adjusting entry, assuming the balance of Allowance for Uncollectible Accounts before adjustment is $4,400 (credit). (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
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 $584,000. Of this amount, $74,000 remains receivable at the end of the year. An aging schedule as of December 31, 2021, is provided below. Estimated Amount Percent Age Group Not yet due 0-90 days past due 91-180 days past due More than 180 days past due Receivable Uncollectible $34,000 4% 20% 15,400 10,400 14,200 $74,000 25% 80% Total 2. Record the December 31, 2021, adjusting entry, assuming the balance of Allowance for Uncollectible Accounts before adjustment is $4,400 (credit). (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![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 $584,000. Of this amount, $74,000 remains
receivable at the end of the year. An aging schedule as of December 31, 2021, is
provided below.
Estimated
Amount
Percent
Receivable
Uncollectible
Age Group
Not yet due
0-90 days past due
91-180 days past due
More than 180 days past due
$34,000
4%
20%
25%
15,400
10,400
14, 200
$74,000
80%
Total
2. Record the December 31, 2021, adjusting entry, assuming the balance of Allowance for Uncollectible
Accounts before adjustment is $4400 (credit). (If no entry is required for a particular
transaction/event, select "No Journal Entry Required" in the first account field.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Faa0ea9ce-59ed-406d-b121-6eea3b015780%2F7ce54923-93dd-4956-b2c6-54cf4d3bb1eb%2Fke6dbxq_processed.png&w=3840&q=75)
Transcribed Image Text: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 $584,000. Of this amount, $74,000 remains
receivable at the end of the year. An aging schedule as of December 31, 2021, is
provided below.
Estimated
Amount
Percent
Receivable
Uncollectible
Age Group
Not yet due
0-90 days past due
91-180 days past due
More than 180 days past due
$34,000
4%
20%
25%
15,400
10,400
14, 200
$74,000
80%
Total
2. Record the December 31, 2021, adjusting entry, assuming the balance of Allowance for Uncollectible
Accounts before adjustment is $4400 (credit). (If no entry is required for a particular
transaction/event, select "No Journal Entry Required" in the first account field.)
Transcribed Image Text:Journal entry worksheet
1
Record the adjusting entry for Uncollectible Accounts.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
December 31, 2021 Bad Debt Expense
14,000
Record entry
Clear entry
View general journal
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