Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
please answer all parts, I will thumbs up! During 2021, its first year of operations, Pave Construction provides services on account of $160,000. By the
please answer all parts, I will thumbs up!
During 2021, its first year of operations, Pave Construction provides services on account of $160,000. By the end of 2021, cash collections on these accounts total $110,000. Pave estimates that 25% of the uncollected accounts will be uncollectible. In 2022, the company writes off uncollectible accounts of $10,000. 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.) 2-b. Calculate the balance of Allowance for Uncollectible Accounts at the end of 2022 (before adjustment in 202 Beginning Balance in 2022 Ending Balance in 2022 $ 15,000 3-a. Assume the same facts as above but assume actual write-offs in 2022 were $15,000. 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.) View transaction list Journal entry worksheet
please answer all parts, I will thumbs up!
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/6691c61d902f1_4696691c61d3c2d9.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/6691c61e23cfa_4696691c61dc2afb.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/6691c61ead885_4706691c61e4d2dc.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/6691c61f2e944_4706691c61ed4e0b.jpg)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started