Use the transactions below to prepare an accounting

Use the transactions below to prepare an accounting equation for the accounts receivable balance and allowance for uncollectible. Also, explain why companies adopt the adjusted allowance method.

Following is a list of transactions for October 201X for Company A. 

Oct. 1 Beginning Accounts Receivable balance is $49,000

Oct. 4 Collected $4,600 from a cash customer

Oct. 5 Collected $4,600, the amount due

Oct. 6 Provided Services of $5,000 on account

Oct. 7 Customer only partially paid invoice, $2,000 

Oct. 12 Collected on the invoice that was previously written off $6,000

Oct. 17 Wrote off the uncollectable amount of $3,000

Oct. 31 Adjusted Allowance account, it is 1% of Accounts Receivable ending balance

Write a summary describing what you did in this assignment. 

Record audio and video showing your work (approximately 6-8 minutes).

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