I am a bit confused with the Chapter 8 P8-27 A. It says Accounting for uncollectible accounts using using the allowance method, and reporting receivables on the balance sheet....At September 30,2012, the accounts of Mountain Terrance Medical Center (MTMC) include the following: Acounts receivable.......$145,000
Allowance for uncollectible accounts (credit balance)...3,500
How do I journalize the transaction?
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