Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. during 2024, its first year of operations, a compa

During 2024, its first year of operations, a company provides services on account of $251,000....

70.2K

Verified Solution

Question

Accounting

During 2024, its first year of operations, a company provides services on account of $251,000. By the end of 2024, cash collections on these accounts total $139,000. The company estimates that 11% of accounts receivable will be uncollectible.
Required:
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
1
Record the adjustment for uncollectible accounts on December 31,2024.
Note: Enter debits before credits.
\table[[Date,General Journal,Debit,Credit],[December 31],[,,,],[,,,],[,,,],[,,,],[,,,]]
Prev
2 of 3
Next
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students