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Southwest pediatrics has the following balances on december 31, 2021, before any adjustment: accounts receivable = $121,000; allowance for uncollectible accounts = $2,100 (debit). on december 31, 2021, southwest estimates uncollectible accounts to be 20% of accounts receivable. required: 1. record the adjusting entry for uncollectible accounts on december 31, 2021. (if no entry is required for a particular transaction/event, select "no journal entry required" in the first account field.)
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Record the journal entry for the provision for uncollectible accounts under each of the following independent assumptions: a. the allowance for doubtful accounts before adjustment has a credit balance of $500. b. the allowance for doubtful accounts before adjustment has a debit balance of $250. c. assume that octoberʼs credit sales were $70,000. uncollectible accounts expense is estimated at 2% of sales. smith, gaylord n.. excel applications for accounting principles (p. 51). cengage textbook. kindle edition.
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Southwest pediatrics has the following balances on december 31, 2021, before any adjustment: accoun...
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