Answered

Explore Westonci.ca, the top Q&A platform where your questions are answered by professionals and enthusiasts alike. Get quick and reliable solutions to your questions from a community of experienced experts on our platform. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.

Southwest Pediatrics has the following balances on December 31, 2021, before any adjustment: Accounts Receivable = $111,000; Allowance for Uncollectible Accounts = $2,100 (debit). On December 31, 2021, Southwest estimates uncollectible accounts to be 20% of accounts receivable.

Sagot :

Parrain

The question is not specified but most probably requires the calculation and recording of the Bad debt expense for the month.

The relevant journal entry is:

Date            Account Title                                               Debit                Credit

Dec. 31        Bad debt expense                                   $24,300

                   Allowance for Uncollectible Accounts                             $24,300

Uncollectible account = 20% of Accounts receivable

= 20% x 111,000

= $22,200

Bad debt expense = Uncollectible accounts +  Allowance for Uncollectible Accounts

= 22,200 + 2,100

= $24,300

As an expense, bad debts will be debited to an expense account to show it is increasing. The Allowance account will be credited as a liability account.

Find out more at https://brainly.com/question/15347431.

Thanks for using our platform. We're always here to provide accurate and up-to-date answers to all your queries. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.