Exercise 5-7 (Algo) Establish an allowance for uncollectible accounts and write off accounts receivable (LO5-3, 5-4) During 2024, its first year of operations, Laminate Construction provides services on account of $144,000. By the end of 2024, cash collections on these accounts total $102,000. Laminate estimates that 20% of the uncollected accounts will be uncollectible. In 2025, the company writes off uncollectible accounts of $7,560. 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 $11,340. 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 Record the adjusting entry for uncollectible accounts on December 31, 2024. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the adjusting entry for Uncollectible Accounts. Note: Enter debits before credits. Date: December 31, 2024 General Journal Debit Credit