Required information [The following information applies to the questions displayed below.] Facial Cosmetics provides plastic surgery primarily to hide the appearance of unwanted scars and other blemishes. During 2021, the company provides services of $406,000 on account. Of this amount, $56,000 remains uncollected at the end of the year. An aging schedule as of December 31, 2021, is provided below. Estimated Amount Receivable Percent Uncollectible Age Group Not yet due 0-30 days past due 31-60 days past due More than 60 days past due $36,000 10,600 7,600 1,800 $56,000 28 5 8 108 20% Total Required: 1. Calculate the allowance for uncollectible accounts. Estimated Amount Age Group Uncollectible Not yet due 0-30 days past due 31-60 days past due More than 60 days past due $ 0 Total ! Required information [The following information applies to the questions displayed below.] Facial Cosmetics provides plastic surgery primarily to hide the appearance of unwanted scars and other blemishes. During 2021, the company provides services of $406,000 on account. Of this amount, $56,000 remains uncollected at the end of the year. An aging schedule as of December 31, 2021, is provided below. Estimated Amount Percent Receivable Uncollectible 28 Age Group Not yet due 0-30 days past due 31-60 days past due More than 60 days past due $36,000 10,600 7,600 1,800 $56,000 58 10% 208 Total 2. Record the December 31, 2021, adjustment, assuming the balance of Allowance for Uncollectible Accounts before adjustment is $360 (debit. (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.] Facial Cosmetics provides plastic surgery primarily to hide the appearance of unwanted scars and other blemishes. During 2021, the company provides services of $406,000 on account. Of this amount, $56,000 remains uncollected 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 0-30 days past due 31-60 days past due More than 60 days past due $36,000 10,600 7,600 1,800 $56,000 28 5 % 10% 20% Total 3. On April 3, 2022, a customer's account balance of $460 is written off as uncollectible. Record the write-off. (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.] Facial Cosmetics provides plastic surgery primarily to hide the appearance of unwanted scars and other blemishes. During 2021, the company provides services of $406,000 on account. Of this amount, $56,000 remains uncollected 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 0-30 days past due 31-60 days past due More than 60 days past due $36,000 10,600 7,600 1,800 $56,000 2 8 5 C 108 208 Total 4. On July 17, 2022, the customer whose account was written off in Part 3 unexpectedly pays $100 of the amount but does not expect to pay any additional amounts. Record the cash collection. (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.] Facial Cosmetics provides plastic surgery primarily to hide the appearance of unwanted scars and other blemishes. During 2021, the company provides services of $406,000 on account. Of this amount, $56,000 remains uncollected at the end of the year. An aging schedule as of December 31, 2021, is provided below. Estimated Amount Receivable Percent Uncollectible Age Group Not yet due 0-30 days past due 31-60 days past due More than 60 days past due $36,000 10,600 7,600 1,800 $56,000 28 5 8 108 20% Total Required: 1. Calculate the allowance for uncollectible accounts. Estimated Amount Age Group Uncollectible Not yet due 0-30 days past due 31-60 days past due More than 60 days past due $ 0 Total ! Required information [The following information applies to the questions displayed below.] Facial Cosmetics provides plastic surgery primarily to hide the appearance of unwanted scars and other blemishes. During 2021, the company provides services of $406,000 on account. Of this amount, $56,000 remains uncollected at the end of the year. An aging schedule as of December 31, 2021, is provided below. Estimated Amount Percent Receivable Uncollectible 28 Age Group Not yet due 0-30 days past due 31-60 days past due More than 60 days past due $36,000 10,600 7,600 1,800 $56,000 58 10% 208 Total 2. Record the December 31, 2021, adjustment, assuming the balance of Allowance for Uncollectible Accounts before adjustment is $360 (debit. (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.] Facial Cosmetics provides plastic surgery primarily to hide the appearance of unwanted scars and other blemishes. During 2021, the company provides services of $406,000 on account. Of this amount, $56,000 remains uncollected 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 0-30 days past due 31-60 days past due More than 60 days past due $36,000 10,600 7,600 1,800 $56,000 28 5 % 10% 20% Total 3. On April 3, 2022, a customer's account balance of $460 is written off as uncollectible. Record the write-off. (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.] Facial Cosmetics provides plastic surgery primarily to hide the appearance of unwanted scars and other blemishes. During 2021, the company provides services of $406,000 on account. Of this amount, $56,000 remains uncollected 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 0-30 days past due 31-60 days past due More than 60 days past due $36,000 10,600 7,600 1,800 $56,000 2 8 5 C 108 208 Total 4. On July 17, 2022, the customer whose account was written off in Part 3 unexpectedly pays $100 of the amount but does not expect to pay any additional amounts. Record the cash collection. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter22: Accounting For Changes And Errors.

Section: Chapter Questions

Problem 15E: The following are independent errors: a. In January 2019, repair costs of 9,000 were debited to the...

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