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need all the answers, thanks! During 2021, its first year of operations, Pave Construction provides services on account of $140,000. By the end of 2021,
need all the answers, thanks!
During 2021, its first year of operations, Pave Construction provides services on account of $140,000. By the end of 2021, cash collections on these accounts total $100,000. Pave estimates that 30% of the uncollected accounts will be uncollectible. In 2022, the company writes off uncollectible accounts of $10,800. Required: 1. Record the adjusting entry for uncollectible accounts on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Answer is complete and correct. No Date General Journal Debit Credit 1 December 31, 202 Bad Debt Expense 12,000 Allowance for Uncollectible Accounts 12,000 2-a. Record the write-off of accounts receivable in 2022. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Answer is complete and correct. No Date General Journal Debit Credit December 31, 202 Allowance for Uncollectible Accounts 10,800 Accounts Receivable 10,800 2-b. Calculate the balance of Allowance for Uncollectible Accounts at the end of 2022 (before adjustment in 2022). X Answer is not complete. Beginning Balance in 2022 Less: Write-offs During 2022 10,800 Ending Balance in 2022 3-a. Assume the same facts as above but assume actual write-offs in 2022 were $16,200. Record the write-off of accounts receivable in 2022. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) X Answer is not complete. No Date General Journal Debit Credit 1 December 31, 202 Allowance for Uncollectible Accounts Accounts Receivable 3-b. Assume the same facts as above but assume actual write-offs in 2022 were $16,200. Calculate the balance of Allowance for Uncollectible Accounts at the end of 2022 (before adjustment in 2022). Beginning Balance in 2022 Ending Balance in 2022Step by Step Solution
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