Answer Happy

During 2021, its first year of operations, Pave Construction provides services on account of $152,000. By the end of 2021, cash collections on these accounts total $106,000. Pave estimates that 30% of the uncollected accounts will be uncollectible. In 2022, the company writes off uncollectible accounts of $12,420. 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.) View transaction list Journal entry worksheet Record the adjusting entry for Uncollectible Accounts. Note: Enter debits before credits. Date December 31, 2021 General Journal Debit Credit
ces 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.) View transaction list View journal entry worksheet / No 1 Date December 31, 2022 General Journal Accounts Receivable Allowance for Uncollectible Accounts Debit 46,000 Credit
2-b. Calculate the balance of Allowance for Uncollectible Accounts at the end of 2022 (before adjustment in 2022). Beginning Balance in 2022 Ending Balance in 2022
3-a. Assume the same facts as above but assume actual write-offs in 2022 were $18,630. 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 Record the write-off of accounts receivable in 2022. Note: Enter debits before credits. Date December 31, 2022 Record entry General Journal Clear entry Debit Credit View general Journal
3-b. Assume the same facts as above but assume actual write-offs in 2022 were $18,630. Calculate the balance of Allowance for Uncollectible Accounts at the end of 2022 (before adjustment in 2022). Beginning Balance in 2022 Ending Balance in 2022