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help During 2024, its first year of operations, Riley Construction provides services on account of $138,000. By the end of 2024 , cash collections on
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During 2024, its first year of operations, Riley Construction provides services on account of $138,000. By the end of 2024 , cash collections on these accounts total $99,000. Riley estimates that 20% of the uncollected accounts will be uncollectible. In 2025 , the company writes off uncollectible accounts of $7,020. 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 $10,530. 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). Journal entry worksheet Record the adjusting entry for Uncollectible Accounts. Note: Enter debits before credits. Journal entry worksheet Record the write-off of accounts receivable in 2025. Note: Enter debits before credits. Calculate the balance of Allowance for Uncollectible Accounts at the end of 2025 (before adjustment in 2025). Journal entry worksheet Record the write-off of accounts receivable in 2025. Note: Enter debits before credits. Calculate the balance of Allowance for Uncollectible Accounts at the end of 2025 (before adjustme Step by Step Solution
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