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STMC

Price: $2.50


At September 30, 2012, the accounts of South Terrace Medical Center (STMC)
include the following:

Accounts receivable . . . . . . . . . . . . . . . . . . . . $145,000
Allowance for uncollectible accounts (credit balance) . . .3,500

During October to December, STMC completed the following selected transactions

Dec 28 Wrote off accounts receivable as uncollectible: Regan, Co., $1,300;
Owen White, $900; and Rain, Ltd., $700.

Dec 31 Recorded uncollectible account expense based on the aging of accounts receivable, as follows



Requirements
1. Journalize the transactions.
2. Open the Allowance for uncollectible accounts T-account, and post entries
affecting that account. Keep a running balance.
3. Show how South Terrace Medical Center should report net accounts receivable
on its December balance sheet. Use the three line reporting format.

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