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 $38,000. September 17, 2021 Receive $22,500 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 $53,000. 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 $42,500 from customers for services provided in 2022. December 31, 2022 Estimate that 458 of accounts receivable at the end of the year will not be received. Required information No Date General Journal Debit Credit 1 June 12, 2021 Accounts Receivable 38,000 Service Revenue 38,000 2 September 17, 202 Cash Accounts Receivable 22,500 22,500 3 December 31, 202 Bad Debt Expense Allowance for Uncollectible Accounts 4 March 04, 2022 Accounts Receivable Service Revenue 5 May 20, 2022 Cash Accounts Receivable 6 July 02, 2022 Allowance for Uncollectible Accounts Accounts Receivable 7 October 19, 2022 Cash Accounts Receivable 8 December 31, 202 Bad Debt Expense Allowance for Uncollectible Accounts S 53,000 53,000 10,000 10,000 42,500 42,500 Problem 5-3A Part 2 2. Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts Cash December 31, 2021 0 December 31, 2022 0 Allowance for Uncollectible Accounts December 31, 2021 0 December 31, 2022 Accounts Receivable December 31, 2021 0 December 31, 2022 Problem 5-3A Part 3 3. Calculate net accounts receivable at the end of 2021 and 2022. Total accounts receivable Net accounts receivable 2021 2022