Question
The following events occur for The Benson Corporation during 2024 and 2025, its first two years of operations. June 12, 2024 : Provide services to
The following events occur for The Benson Corporation during 2024 and 2025, its first two years of operations.
June 12, 2024 : Provide services to customers on account for $36,200.
September 17, 2024 : Receive $21,000 from customers on account.
December 31, 2024 : Estimate that 45% of accounts receivable at the end of the year will not be received.
March 4, 2025 : Provide services to customers on account for $51,200.
May 20, 2025 : Receive $10,000 from customers for services provided in 2024.
July 2, 2025 : Write off the remaining amounts owed from services provided in 2024.
October 19, 2025 : Receive $41,000 from customers for services provided in 2025.
December 31, 2025 : Estimate that 45% of accounts receivable at the end of the year will not be received.
1. Record transactions for each date. 2. Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts. 3. Calculate net accounts receivable reported in the balance sheet at the end of 2024 and 2025.
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Law And Order Review 1993 An Audit Of Crime Policing And Criminal Justice Issues
Authors: John Benyon
1st Edition
1874493901, 978-1874493907
