Answer:
[A] chronological summary of all transactions posted to individual patient ledgers/accounts on a specific day
Explanation:
The number one reason for failure of a new business is poor management.
Hope that helped! (:
Answer:
There will be no effect on working capital upon write off as the entries required would be a credit to receivables and a debit to allowance account.
Explanation:
The allowance account is the account used to record receivables due that may not be collectible.
When a company has determined that a receivable may be uncollectible, the company credits the allowance for receivables account and debits bad debit expense. This reduces the accounts receivable balance in the balance sheet as the receivables to be reported will be net the allowance given. As such, where on December 31, 2020, Allowance account balance includes $3,076 for a past due account that is not likely to be collected.
There will be no effect on working capital upon write off as the entries required would be a credit to receivables and a debit to allowance account.
Beginning balance 10000
Add service on account 50000
Less ending balance 12000
Received from customers
10,000+50,000−12,000=48,000
Hope it helps!
