Cole Dental Group started 2016 with Accounts receivable of $122,000 and a credit

Question

Cole Dental Group started 2016 with Accounts receivable of $122,000 and a credit balance in Allowance for uncollectible accounts of $6,000. The following information relates to Cole Dental's 2016 operations: Journalize Cole's 2016 transactions based on the information provided. Prepare a T-account for the Allowance for uncollectible accounts to show your computation of Bad debt expense for the year. Jounalize Cole's 2016 transactions. (Record debits first, then credits. Exclude explanations from any journal entries.) Click the icon to view the information.) a. Credit sales, $412,000 More Info Journal Entry Accounts Debit Credit a. a. Credit sales, $412,000. b. Collections on account, $312,000 c. Write-offs of uncollectibles, $14,000 d. At December 31, the aging of accounts receivable showed that Cole will probably not collect $5,700 of its accounts receivable. Print Done

Explanation / Answer

Allowances for Uncollectible Account

Closing Balance $11,700

Opening Balance $6,000

Account Receivable a/c $5,700

Journal Entries

1. Accounts Receivable a/c Dr, $412,000

To Sales A/c $412,000

2. Bank a/c Dr. $312,000

To Accounts Receivable a/c $312,000

3. Bad Debts a/c Dr. $14,000

To Accounts Receivable a/c $14,000

4. Account for Uncollectibles a/c Dr, $5700

To Accounts Receivable a/c $5700

Particular Debit Particular Credit

Closing Balance $11,700

Opening Balance $6,000

Account Receivable a/c $5,700

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