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During 2024, its first year of operations, Laminate Construction provides services on account of $136,000. By the end of 2024, cash collections on these accounts
During 2024, its first year of operations, Laminate Construction provides services on account of $136,000. By the end of 2024, cash collections on these accounts total $98,000. Laminate estimates that 30% of the uncollected accounts will be uncollectible. In 2025, the company writes off uncollectible accounts of $10,260. Required: 1. Record the adjusting entry for uncollectible accounts on December 31, 2024. 2-a. Record the write-off of accounts receivable in 2025. 2-b. Calculate the balance of Allowance for Uncollectible Accounts at the end of 2025 (before adjustment in 2025). 3-a. Assume the same facts as above but assume actual write-offs in 2025 were $15,390. Record the write- off of accounts receivable in 2025. 3-b. Calculate the balance of Allowance for Uncollectible Accounts at the end of 2025 (before adjustment in 2025). Complete this question by entering your answers in the tabs below. Required 1 Required 2a Required 2b Required 3a Required 3b Required 1 Required 2a Required 2b Required 3a Required 3b Record the adjusting entry for uncollectible accounts on December 31, 2024. (If no entry is required for a particular select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 December 31, 2024 Bad Debt Expense Complete this question by entering your answers in the tabs below. Required 1 Required 2a Required 2b Required 3a Required 3b Calculate the balance of Allowance for Uncollectible Accounts at the end of 2025 (before adjustment in 2025). Beginning balance in 2025 Ending balance in 2025 0 Required 1 Required 2a Required 2b Required 3a Required 3b Assume the same facts as above but assume actual write-offs in 2025 were $15,390. Record the write-off of a 2025. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first View transaction list Journal entry worksheet
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