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Problem 5-4A (Algo) Record transactions related to uncollectible accounts (LO5-4, 5-5) Pearl E. White Orthodontist specializes in correcting misaligned teeth During 2024, Pearl provides
Problem 5-4A (Algo) Record transactions related to uncollectible accounts (LO5-4, 5-5) Pearl E. White Orthodontist specializes in correcting misaligned teeth During 2024, Pearl provides services on account of $574,000. Of this amount, $64,000 remains receivable at the end of the year. An aging schedule as of December 31, 2024, is provided below. Age Group Not yet due Amount Receivable Estimated Percent incollectible $24,000 5% to 90 days past due 14,400 20% 51 to 100 days past 5,400 25% due more than 100 days 10,200 70% past due $64,000 " Total Required: 1. Calculate the allowance for uncollectible accounts 2. Record the December 31, 2024, adjusting entry, assuming the balance of Allowance for Uncollectible Accounts before adjustment is $3.400 (credi 3. On July 19, 2025, a customer's account balance of $6,400 is written off as uncollectible. Record the write-off. 4. On September 30, 2025, the customer whose account was written off in requirement 3 unexpectedly pays the full amount. Record the cash collection Complete this question by entering your answers in the tabs below. Req 1 Reg 2 to 4 2. Record the December 31, 2024, adjusting entry, assuming the balance of Allowance for Uncollectible Accounts before adjustment is $3,400 (credit). 3. On July 19, 2025, a customer's account balance of 50,400 is written off as uncollectible. Record the write-off. 4. On September 30, 2025, the customer whose account was written off in requirement 3 unexpectedly pays the full amount, Record the cash collection. Note: If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Show less a
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