2) (16 point) Gable Incorporated provides legal services. During 2018, the company provides services of $500,000 on account. Of this amount, $70,000 remains uncollected at the end of the year. An aging schedule as of December 31, 2018, is provided below.

Required: 1. Calculate the allowance for uncollectible accounts. (4 point)

2. Record the December 31, 2018 adjustment, assuming the balance of Allowance for Uncollectible Accounts before adjustment is $500 (debit). (4 point)

3. On April 3, 2019, a customer's account balance of $600 is written off as uncollectible. Record the write-off.(4 point)

4. On July 17, 2019, the customer whose account was written off in Requirement 3 unexpectedly pays $200 of the amount but does not expect to pay any additional amounts. Record the cash collection. (4 point)

2) (16 poin) Gable Incorporated provides legal services. During 2018, the company provides services of $500,000 on account. of this amount, $70,000 remains uncollected at the end of the year. An aging schedule as of December 31, 2018, is provided below. Amount Estimated Percent Uncollectible Receivable Age Group $40,000 Not yet due 10% 0-30 days past due 20% 9,000 31-60 days past due 40% 6,000 More than 60 days past due $74,000 Total Required: 1. Calculate the allowance for uncollectible accounts. (4 point)