A company has the following balances on December 31, 2024, before any adjustment: Accounts Receivable = $90,000; Allowance for Uncollectible Accounts = $2,000 (debit). The company estimates uncollectible accounts based on an aging of accounts receivable as shown below. Age Group Not yet due 0 to 60 days past due 61 to 120 days past due More than 120 days past due Total Amount Receivable $40,000 24,000 14,000 12,000 $90,000 Estimated Percent Uncollectible 5% 15% 25% 80% Required: 1. Estimate the amount of uncollectible receivables. 2. Record the adjusting entry for uncollectible accounts on December 31, 2024. 3. Calculate net accounts receivable reported in the balance sheet.

A company has the following balances on December 31, 2024, before any adjustment Accounts Receivable $990,000; Allowance for Uncollectible Accounts =$2,000 (debith. The company estimates uncollectible accounts based on an aging of accounts receivable as shown below. Required: 1. Estimate the amount of uncollectible receivabies. 2. Record the adjusting entry for uncollectible accounts on December 31, 2024. 3. Calculate net accounts receivable reported in the balance sheet. Complete this question by entering your answers in the tabs below. Estimate the amount of uncollectible recelvables. Journal entry worksheet Record the adjusting entry for uncollectible accounts. Note: Enter debits before credits. Required: 1. Estimate the amount of uncollectible receivables. 2. Record the adjusting entry for uncollectible accounts on December 31, 2024. 3. Calculate net accounts receivable reported in the balance sheet. Complete this question by entering your answers in the tabs below. Calculate net accounts receivable reported in the balance sheet