Question: Problem 5 - 3 A ( Algo ) Record transactions related to accounts receivable ( LO 5 - 3 , 5 - 4 , 5

Problem 5-3A (Algo) Record transactions related to accounts receivable (LO5-3,5-4,5-5)
The following events occur for The Spanaccio Corporation during 2024 and 2025, its first two years of operations.
June 12,2024 Provide services to customers on account for $39,200.
September 17,2024 Receive $23,500 from customers on account.
December 31,2024 Estimate that 45% of accounts receivable at the end of the year will not be received.
March 4,2025 Provide services to customers on account for $54,200.
May 20,2025 Receive $10,000 from customers for services provided in 2024.
July 2,2025 Write off the remaining amounts owed from services provided in 2024.
October 19,2025 Receive $43,500 from customers for services provided in 2025.
December 31,2025 Estimate that 45% of accounts receivable at the end of the year will not be received.
Required:
1. Record transactions for each date.
2. Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts.
3. Calculate net accounts receivable reported in the balance sheet at the end of 2024 and 2025.
*I have everything filled in but keep getting the allowance for uncollectible accounts on december 31,2025 incorrect (check my work says it is not 4815)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!