! Required information 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 $29,000. September 17, 2021 Receive $15,000 from customers on account. December 31, 2021 Estimate that 40% of accounts receivable at the end of the year will not be received. March 4, 2022 Provide services to customers on account for $44,000. 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 $35,000 from customers for services provided in 2022. December 31, 2022 Estimate that 40% of accounts receivable at the end of the year will not be received. Problem 5-3A Part 1 Required: 1. 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.) View transaction list Journal entry worksheet Provide services to customers on account for $29,000. Note: Enter debits before credits. Date General Journal Debit Credit June 12, 2021 Record entry Clear entry View general journal Required information 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 $29,000. September 17, 2021 Receive $15,000 from customers on account. December 31, 2021 Estimate that 40% of accounts receivable at the end of the year will not be received. March 4, 2022 Provide services to customers on account for $44,000. 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 $35,000 from customers for services provided in 2022. December 31, 2022 Estimate that 40% of accounts receivable at the end of the year will not be received. Problem 5-3A Part 2 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 Allowance for Uncollectible Accounts December 31, 2021 December 31, 2022 Required information 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 $29,000. September 17, 2021 Receive $15,000 from customers on account. December 31, 2021 Estimate that 40% of accounts receivable at the end of the year will not be received. March 4, 2022 Provide services to customers on account for $44,000. 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 $35,000 from customers for services provided in 2022. December 31, 2022 Estimate that 40% of accounts receivable at the end of the year will not be received. Problem 5-3A Part 3 3. Calculate net accounts receivable at the end of 2021 and 2022. 2021 2022 Total accounts receivable Net accounts receivable
