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I only need help with Allowance for Uncollectible Accounts as I do not know what I am getting wrong. Required Information (The following information applies
I only need help with Allowance for Uncollectible Accounts as I do not know what I am getting wrong.
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 $35,800. September 17, 2021 Receive $21,5ee 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 $51,800. 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. October 19, 2022 Receive $41,500 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 received. 2. Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts. Cash Accounts Receivable September 17, 2021 21,500 June 12, 2021 36.800 21,500 September 17, 2021 21,500 15,300 December 31, 2021 May 20, 2022 October 19, 2022 December 31, 2021 March 4, 2022 51,800 10.000 41,500 10,000 May 20, 2022 5,300 July 2, 2022 41,500 October 19, 2022 December 31, 2022 73.000 December 31, 2022 10,300 Allowance for Uncollectible Accounts 6.885 December 31, 2021 3,050 December 31, 2022 9,935 December 31, 2022Step by Step Solution
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