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5 Exercises (Static) Seved Exercise 5-7A Establish an allowance for uncollectible accounts and write off accounts receivable (LO5 3,5-4) During 2021, its first year of
5 Exercises (Static) Seved Exercise 5-7A Establish an allowance for uncollectible accounts and write off accounts receivable (LO5 3,5-4) During 2021, its first year of operations, Pave Construction provides services on account of $160,000. By the end of 2021, cash collections on these accounts total $110,000. Pave estimates that 25% of the uncollected accounts will be uncollectible. In 2022, the company writes off uncollectible accounts of $10,000. Required: 1. Record the adjusting entry for uncollectible accounts on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Book Hint View transaction list Print Journal entry worksheet References Record the adjusting entry for Uncollectible Accounts Note Enter debits before credits Debit Credit General Journal Date December 31 2021 12.500 Bad Debt Expense Allowance for Uncollectible Accounts 12.500 Prav 5 of 22 HE Next > reises (Static) 2-a. Record the write-off of accounts receivable in 2022. (If no entry is required for a particular transaction/event, select "No Entry Required" in the first account field.) View transaction list Journal entry worksheet MacBook 2 3 R Record entry 2-b. Calculate the balance of Allowance for Uncollectible Accounts at the end of 2022 (before adjustment in 2022) Beginning Balance in 2022 Ending Balance in 2022 3-a. Assume the same facts as above but assume actual write-offs in 2022 were $15,000. Record the write-off of account 5 of 22 MacBook Air FI 6 8 3 5 2 4 R E T Y W 3-a. Assume the same facts as above but assume actual write-offs in 2022 were $15,000. Record the write-off of accounts receivable in 2022. (if no entry is required for a particular transaction event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet 1 Record the write-off of accounts receivable in 2022 Note Enter debits before credits Debit Credit General Journal sences Date December 31, 2022 Record entry Clear entry View general journal MacBook W E R H S Record entry Clear entry View general Journal 3-b. Assume the same facts as above but assume actual write-offs in 2022 were $15,000. Calculate the balance of Allowance fom Uncollectible Accounts at the end of 2022 (before adjustment in 2022) Beginning Balance in 2022 nces Ending Balance in 2022 MACBOOR 4 5 Q E R G H D A S
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