Record the adjustment for uncollectible accounts

Reference no: EM131520195

Question: During 2012, its first year of operations, Pave Construction provides services on account of $140,000. By the end of 2012, cash collections on these accounts total $100,000. Pave estimates that 30% of the uncollected accounts will be bad debts.

Required: 1. Record the adjustment for uncollectible accounts on December 31, 2012.

2. Calculate the net realizable value of accounts receivable.

Reference no: EM131520195

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