Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer question 2 , with all the parts 1, 2a, 2b , 3a and 3b. Thank you ! 2. During 2024, its first year

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedPlease answer question 2 , with all the parts 1, 2a, 2b , 3a and 3b. Thank you !

2. During 2024, its first year of operations, Platform Construction provides services on account of $152,000. By the end of 2024, cash collections on these accounts total $106,000. Platform estimates that 30% of the uncollected accounts will be uncollectible. In 2025, the company writes off uncollectible accounts of $12,420. 11.66 points 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 $18,630. 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). eBook References Complete this question by entering your answers in the tabs below. Required 1 Required 2a Required 2b Required 3a Required 3b Assume the same facts as above but assume actual write-offs in 2025 were $18,630. 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.) 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 View journal entry worksheet X No Date General Journal Debit Credit 1 December 31, 2024 Bad Debt Expense Required 1 Required 2a Required 1 Required 2a Required 2b Required 3a Required 3b 2 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.) 11.66 points View transaction list eBook Journal entry worksheet References Record the write-off of accounts receivable in 2025. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2025 Record entry Clear entry View general journal eBook Complete this question by entering your answers in the tabs below. References Required 1 Required 2a Required 2b Required 3a Required 3b Calculate the balance of Allowance for Uncollectible Accounts at the end of 2025 (before adjustment in 2025). Beginning balance in 2025 Ending balance in 2025 $ 0 2 Required 1 Required 2a Required 2b Required 3a Required 3b Assume the same facts as above but assume actual write-offs in 2025 were $18,630. 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.) 11.66 points View transaction list eBook Journal entry worksheet References Record the write-off of accounts receivable in 2025. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2025 Record entry Clear entry View general journal Required 1 Required 2a Required 2b Required 3a Required 3b Calculate the balance of Allowance for Uncollectible Accounts at the end of 2025 (before adjustment in 2025). Beginning balance in 2025 Ending balance in 2025 0 Required 3a Required 3b

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Authors: Carl s. warren, James m. reeve, Philip e. fess

21st Edition

978-0324400205, 324225016, 324188005, 324400209, 9780324225013, 978-0324188004

More Books

Students also viewed these Accounting questions

Question

Human brain is also known as the emotional brain?

Answered: 1 week ago

Question

This is the outer most carnival appendage?

Answered: 1 week ago

Question

Proximity of the brain tissue?

Answered: 1 week ago

Question

Human brain are.......?

Answered: 1 week ago

Question

How many lobes are in the cerebral cortex?

Answered: 1 week ago