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Required information Skip to question [The following information applies to the questions displayed below.] The following events occur for The Underwood Corporation during 2021 and
Required information
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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 $41,000. | |||
September | 17, | 2021 | Receive $25,000 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 $56,000. | |||
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 $45,000 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.)
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