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Required information (The following information applies to the questions displayed below. The following events occur for Morris Engineering during 2021 and 2022, its first two

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Required information (The following information applies to the questions displayed below. The following events occur for Morris Engineering during 2021 and 2022, its first two years of operations. February 2, 2021 Provide services to customers on account for $34,400. July 23, 2021 Receive $24,000 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 $47,400. 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 $42,000 from customers for services provided in 2022. December 31, 2022 Estimate that 25% of uncollected accounts 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.) View transaction list Journal entry worksheet Provide services to customers on account for $34,400. Note: Enter debits before credits. Date General Journal Debit Credit Feb. 2, 2021 Record entry Clear entry View general journal Problem 5-8B Record long-term notes receivable and interest revenue (LO5-7) On April 15, 2021, Sampson Consulting provides services to a customer for $98,000. To pay for the services, the customer signs a three-year, 12% note. The face amount is due at the end of the third year, while annual interest is due each April 15. (Hint: Because the note is accepted during the middle of the month, Sampson plans to recognize one-half month of interest revenue in April 2021, and one-half month of interest revenue in April 2024.) Required: 1. Record the acceptance of the note on April 15, 2021. 2. Record the interest collected on April 15 for 2022 and 2023, and the adjustment for interest revenue on December 31, 2021, 2022, and 2023. 3. Record the cash collection on April 15, 2024. Prepare the journal entries for the above transactions. (Do not round intermediate calculations. 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 Record the acceptance of the note. Note: Enter debits before credits. Date General Journal Debit Credit April 15, 2021

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