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
Related questions
Question
100%
please help
![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
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education