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a. Record transactions for each date. (If no entry is required for a particular transaction/event, select No Journal Entry Required in the first account field.)
a. Record transactions for each date. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
b. Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts.
c. Calculate net accounts receivable at the end of 2021 and 2022.
Required information [The following information applies to the questions displayed below.] The following events occur for The Underwood Corporation during 2021 and 2022 , its first two years of operations. June 12,2021 Provide services to customers on account for $35,600. September 17,2021 Receive $20,500 from customers on account. December 31,2021 Estimate that 45% of accounts receivable at the end of the year will not be received. March 4,2022 Provide services to customers on account for $50,600. May 20,2022 Receive $10,000 from customers for services provided in 2021 . July 2,2022 Write off the remaining amounts owed from services provided in 2021. 0ctober 19,2022 Receive $40,500 from customers for services provided in 2022 . December 31,2022 Estimate that 45% of accounts receivable at the end of the year will not be receivedStep by Step Solution
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