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[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.

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.)

1	June 12, 2021	Accounts Receivable	32,000
		Service Revenue		32,000
2	September 17, 2021	Cash	17,500
		Accounts Receivable		17,500
3	December 31, 2021	Bad Debt Expense	6,525
		Allowance for Uncollectible Accounts		6,525
4	March 04, 2022	Accounts Receivable	47,000
		Service Revenue		47,000
5	May 20, 2022	Cash	10,000
		Accounts Receivable		10,000
6	July 02, 2022	Allowance for Uncollectible Accounts	4,500
		Accounts Receivable		4,500
7	October 19, 2022	Cash	37,500
		Accounts Receivable		37,500
8	December 31, 2022	Bad Debt Expense	2,250
		Allowance for Uncollectible Accounts		2,250

2. Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts.

3. Calculate net accounts receivable at the end of 2021 and 2022.