During 2018, its first year of operations, Pave Construction provides services on account of $142,000. By the end of 2018, cash collections on these accounts total $101,000. Pave estimates that 25% of the uncollected accounts will be bad debts.

Required:

1. Record the adjustment for uncollectible accounts on December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

2. Calculate the net realizable value of accounts receivable.

Journal entry worksheet Record the adjustment entry for Uncollectible Accounts Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2018 Bad debt expense 10,250 Allowance for uncollectible accounts 10,250