Journal entry worksheet Record the adjustment entry for Uncollectible Accounts. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 9,600 2018 Allowance for uncollectible accounts 9,600 Record entry Clear entry View general journal 2. Calculate the net realizable value of accounts receivable. Total accounts receivable Net realizable value

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter16: Accounting For Accounts Receivable
Section: Chapter Questions
Problem 11SPB: DIRECT WRITE-OFF METHOD Lee and Chen Distributors uses the direct write-off method in accounting for...
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During 2018, its first year of operations, Pave Construction provides services on account of $156,000. By the end of 2018, cash collections on these accounts total $108,000. Pave estimates that 20% of the uncollected accounts will be bad debts.
 

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1. Record the adjustment for uncollectible accounts on December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
  

Journal entry worksheet
Record the adjustment entry for Uncollectible Accounts.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
December 31,
9,600
2018
Allowance for uncollectible accounts
9,600
Record entry
Clear entry
View general journal
Transcribed Image Text:Journal entry worksheet Record the adjustment entry for Uncollectible Accounts. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 9,600 2018 Allowance for uncollectible accounts 9,600 Record entry Clear entry View general journal
2. Calculate the net realizable value of accounts receivable.
Total accounts receivable
Net realizable value
Transcribed Image Text:2. Calculate the net realizable value of accounts receivable. Total accounts receivable Net realizable value
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