During 2012, its first year of operations, Pave Construction provides services on account of $140,000. By the

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During 2012, its first year of operations, Pave Construction provides services on account of $140,000. By the end of 2012, cash collections on these accounts total $100,000. Pave estimates that 30% of the uncollected accounts will be bad debts.
Required:
1. Record the adjustment for uncollectible accounts on December 31, 2012.
2. Calculate the net realizable value of accounts receivable.
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Financial Accounting

ISBN: 9780078110825

2nd Edition

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

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