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Exercise 5 - 7 ( Algo ) Establish an allowance for uncollectible accounts and write off accounts receivable ( LO 5 - 3 , 5
Exercise Algo Establish an allowance for uncollectible accounts and write off accounts receivable LO During its first year of operations, Riley Construction provides services on account of $ By the end of cash collections on these accounts total $ Riley estimates that of the uncollected accounts will be uncollectible In the company writes off uncollectible accounts of $ Required: Record the adjusting entry for uncollectible accounts on December a Record the writeoff of accounts receivable in b Calculate the balance of Allowance for Uncollectible Accounts at the end of before adjustment in a Assume the same facts as above but assume actual writeoffs in were $ Record the writeoff of accounts receivable in b Calculate the balance of Allowance for Uncollectible Accounts at the end of before adjustment in
Exercise Algo Establish an allowance for uncollectible accounts and write off accounts receivable LO
During its first year of operations, Riley Construction provides services on account of $ By the end of cash collections on these accounts total $ Riley estimates that of the uncollected accounts will be uncollectible In the company writes off uncollectible accounts of $
Required:
Record the adjusting entry for uncollectible accounts on December
a Record the writeoff of accounts receivable in
b Calculate the balance of Allowance for Uncollectible Accounts at the end of before adjustment in
a Assume the same facts as above but assume actual writeoffs in were $ Record the writeoff of accounts receivable in
b Calculate the balance of Allowance for Uncollectible Accounts at the end of before adjustment in
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