During 2021, its first year of operations, Pave Construction provides services on account of $156,000. By the end of 2021, cash collections on these accounts total $108,000. Pave estimates that 20% of the uncollected accounts will be uncollectible. In 2022, the company writes off uncollectible accounts of $8,640. 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.)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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During 2021, its first year of operations, Pave Construction provides services on account of $156,000. By the end of 2021, cash
collections on these accounts total $108,000. Pave estimates that 20% of the uncollected accounts will be uncollectible, In 2022,
the company writes off uncollectible accounts of $8,640.
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.)
Transcribed Image Text:During 2021, its first year of operations, Pave Construction provides services on account of $156,000. By the end of 2021, cash collections on these accounts total $108,000. Pave estimates that 20% of the uncollected accounts will be uncollectible, In 2022, the company writes off uncollectible accounts of $8,640. 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.)
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