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The following events occur for The Spanaccio Corporation during 2024 and 2025, its first two years of operations. June 12, 2024 September 17, 2024 December
The following events occur for The Spanaccio Corporation during 2024 and 2025, its first two years of operations. June 12, 2024 September 17, 2024 December 31, 2024 March 4, 2025 May 20, 2025 July 2, 2025 October 19, 2025 December 31, 2025 Required: Provide services to customers on account for $37,400. Receive $22,000 from customers on account. Estimate that 45% of accounts receivable at the end of the year will not be received. Provide services to customers on account for $52,400. Receive $10,000 from customers for services provided in 2024. Write off the remaining amounts owed from services provided in 2024. Receive $42,000 from customers for services provided in 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. No Date General Journal Debit Credit 1 June 12, 2024 Accounts Receivable 37,400 Service Revenue 37,400 2 September 17, 202 Accounts Payable Service Revenue 22,000 22,000 3 December 31, 202 Bad Debt Expense 16,830 Service Revenue 16,830 4 March 04, 2025 Accounts Receivable 52,400 Service Revenue 52,400 5 May 20, 2025 Cash Accounts Receivable 10,000 10,000 6 July 02, 2025 No Journal Entry Required 7 October 19, 2025 Cash Accounts Receivable 42,000 42,000 8 December 31, 202 Bad Debt Expense 16,830 x Allowance for Uncollectible Accounts 16,830 Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts. Debit Cash December 31, 2024 December 31, 2025 Debit 0 Allowance for Uncollectible Accounts Credit Credit December 31, 2024 0 December 31, 2025 Debit Accounts Receivable Credit December 31, 2024 0 December 31, 2025 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 31 Calculate net accounts receivable reported in the balance sheet at the end of 2024 and 2025. Total accounts receivable 2024 2025 Net accounts receivable < Required 2 Required 3>
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