Alpha Company Began Business on January $1,2024.$

Record the three entries to account for the uncollectible Accounts Receivable.

$12-31-24$: Valley Company has a balance in accounts receivable of $$500,000.$ It is estimated that $5\%$ of these accounts receivable will be uncollectible.

$5-15-25$: The Tulip Company Accounts Receivable of $$27,000$ was written off. The Tulip Company accounts receivable was outstanding on $12-31-24.$

$12-31-25$ Valley Company has a balance in accounts receivable of $$600,000.$ It is estimated that $5\%$ of these accounts receivable will be uncollectible.