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Record the adjusting entry for uncollectible accounts on December 3 1 , 2 0 2 4 . ( If no entry is required for a

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.)
Journal entry worksheet
Record the adjusting entry for Uncollectible Accounts.
Note: Enter debits before credits.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).
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