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Problem 5-3A Record transactions related to accounts receivable (LO5-3, 5-4, 5-5) The following information applies to the questions displayed below.] The following events occur for
Problem 5-3A Record transactions related to accounts receivable (LO5-3, 5-4, 5-5) 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 $32,000. September 17, 2021 Receive $17,500 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 $47,000. 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 $37,500 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 December 31, 2021 December 31, 2021 December 31, 2022 December 31, 2022 0 Allowance for Uncollectible Accounts December 31, 2021 December 31, 2022
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