Gorav Dental Group started 2010 with Accounts Receivable of $120,000 and an Allowance for Uncollectible Accounts balance
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Gorav Dental Group started 2010 with Accounts Receivable of $120,000 and an Allowance for Uncollectible Accounts balance of $6,000. The following information relates to Gorav Dental’s 2010 operations:
a. Credit sales, $400,000.
b. Collections on account, $320,000.
c. Write-offs of uncollectibles, $15,000.
d. At December 31, the aging of accounts receivable showed that Gorav will probably not collect $5,000 of its accounts receivable.
Journalize Gorav’s 2010 transactions based on the information provided. Prepare a T-account for the Allowance for Uncollectible Accounts to show your computation of Uncollectible Accounts Expense for the year.
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