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Required information [The following information applies to the questions displayed below.] The following events occur for Redbud Co. during 2021 and 2022, its first two
Required information [The following information applies to the questions displayed below.] The following events occur for Redbud Co. during 2021 and 2022, its first two years of operations. February 2, 2021 Provide services to customers on account for $36,200. July 23, 2021 Receive $25,500 from customers on account. December 31, 2021 Estimate that 25% of uncollected accounts will not be received. April 12, 2022 Provide services to customers on account for $49,200. June 28, 2022 Receive $6,000 from customers for services provided in 2021. September 13, 2022 Write off the remaining amounts owed from services provided in 2021. October 5, 2022 Receive $43,500 from customers for services provided in 2022. December 31, 2022 Estimate that 25% of uncollected accounts will not be received. 3. Calculate net accounts receivable at the end of 2021 and 2022. Total accounts receivable Net accounts receivable + 2021 2022
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