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, Platform Construction provides services on account of $122,000. By the end of 2024 , cash collections on these accounts total $91,000. Platform estimates that 25% of the uncollected accounts will be uncollectible. In 2025 , the company writes off uncollectible accounts of $6,975. 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 $11,160. 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. 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.) Journal entry worksheet Record the adjusting entry for Uncollectible Accounts. Note: Enter debits before credits. 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, Platform Construction provides services on account of $122,000. By the end of 2024, cash collections on these accounts total $91,000. Platform estimates that 25% of the uncollected accounts will be uncollectible. In 2025 , the company writes off uncollectible accounts of $6,975. 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 $11,160. 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. Record the write-off of accounts receivable in 2025. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the write-off of accounts receivable in 2025. Note: Enter debits before credits. 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, Platform Construction provides services on account of $122,000. By the end of 2024, cash collections on these accounts total $91,000. Platform estimates that 25% of the uncollected accounts will be uncollectible. In 2025 , the company writes off uncollectible accounts of $6,975. 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 $11,160. 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