Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A three-part question and I need 8 journal entries. The following events occur for Messer Engineering during 2024 and 2025, its first two years of

image text in transcribedimage text in transcribedimage text in transcribedA three-part question and I need 8 journal entries.

The following events occur for Messer Engineering during 2024 and 2025, its first two years of operations. February 2, 2024 Provide services to customers on account for $28,400. July 23, 2024 Receive $19,000 from customers on account. December 31, 2024 Estimate that 25\% of uncollected accounts will not be received. April 12, 2025 Provide services to customers on account for $41,400. June 28, 2025 Receive $6,000 from customers for services provided in 2024. September 13, 2025 Write off the remaining amounts owed from services provided in 2024. October 5, 2025 Receive $37,000 from customers for services provided in 2025. December 31, 2025 Estimate that 25\% of uncollected accounts 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. Complete this question by entering your answers in the tabs below. 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.) June 28,2025 Receive $6,000 from customers for services provided in 2024. September 13, 2025 Write off the remaining amounts owed from services provided in 2024. October 5, 2025 Receive $37,000 from customers for services provided in 2025. December 31, 2025 Estimate that 25% of uncollected accounts 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 . Complete this question by entering your answers in the tabs below. Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts. The following events occur for Messer Engineering during 2024 and 2025 , its first two years of operations. February 2, 2024 Provide services to customers on account for $28,400. July 23, 2024 Receive $19,000 from customers on account. December 31, 2024 Estimate that 25\% of uncollected accounts will not be received. April 12, 2025 Provide services to customers on account for $41,400. June 28, 2025 Receive $6,000 from customers for services provided in 2024. September 13, 2025 Write off the remaining amounts owed from services provided in 2024. October 5, 2025 Receive $37,000 from customers for services provided in 2025. December 31, 2025 Estimate that 25\% of uncollected accounts 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 Account 3. Calculate net accounts receivable reported in the balance sheet at the end 2024 and 2025. Complete this question by entering your answers in the tabs below. Calculate net accounts receivable reported in the balance sheet at the end of 2024 and 2025 . The following events occur for Messer Engineering during 2024 and 2025, its first two years of operations. February 2, 2024 Provide services to customers on account for $28,400. July 23, 2024 Receive $19,000 from customers on account. December 31, 2024 Estimate that 25\% of uncollected accounts will not be received. April 12, 2025 Provide services to customers on account for $41,400. June 28, 2025 Receive $6,000 from customers for services provided in 2024. September 13, 2025 Write off the remaining amounts owed from services provided in 2024. October 5, 2025 Receive $37,000 from customers for services provided in 2025. December 31, 2025 Estimate that 25\% of uncollected accounts 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. Complete this question by entering your answers in the tabs below. 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.) June 28,2025 Receive $6,000 from customers for services provided in 2024. September 13, 2025 Write off the remaining amounts owed from services provided in 2024. October 5, 2025 Receive $37,000 from customers for services provided in 2025. December 31, 2025 Estimate that 25% of uncollected accounts 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 . Complete this question by entering your answers in the tabs below. Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts. The following events occur for Messer Engineering during 2024 and 2025 , its first two years of operations. February 2, 2024 Provide services to customers on account for $28,400. July 23, 2024 Receive $19,000 from customers on account. December 31, 2024 Estimate that 25\% of uncollected accounts will not be received. April 12, 2025 Provide services to customers on account for $41,400. June 28, 2025 Receive $6,000 from customers for services provided in 2024. September 13, 2025 Write off the remaining amounts owed from services provided in 2024. October 5, 2025 Receive $37,000 from customers for services provided in 2025. December 31, 2025 Estimate that 25\% of uncollected accounts 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 Account 3. Calculate net accounts receivable reported in the balance sheet at the end 2024 and 2025. Complete this question by entering your answers in the tabs below. Calculate net accounts receivable reported in the balance sheet at the end of 2024 and 2025

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Security Audit And Control Features Oracle E Business Suite

Authors: Deloitte Touche Tohmatsu Research Team And Isaca

3rd Edition

1604201061, 978-1604201062

More Books

Students also viewed these Accounting questions

Question

b. Why were these values considered important?

Answered: 1 week ago