The following events occur for The Underwood Corporation during $2026$ and $2027,$ its first $2$ years of operations.

June $12,2026$ Provide services to customers on account for $$41,000.$

September $17,2026$ Receive $$25,000$ from customers on account.

December $31,2026$ Estimate that $45\%$ of accounts receivable at the end of the year will not be received.

March $4,2027$ Provide services to customers on account for $$56,000.$

May $20,2027$ Receive $$10,000$ from customers for services provided in $2026.$

July $2,2027$ Write off the remaining amounts owed from services provided in $2026.$

October $19,2027$ Receive $$45,000$ from customers for services provided in $2027.$

December $31,2027$ Estimate that $45\%$ of accounts receivable at the end of the year will not be received.

Required:

Determine the financial statement effects for each date

Calculate net accounts receivable reported in the balance sheet at the end of $2026$ and $2027.$

Complete this question by entering your answers in the tabs below.

Required $2$

Determine the financial statement effects for each date.

Note: Amounts to be deducted should be indicated by a minus sign.

$\backslash$table$[[,$Balance Sheet,Income Statement$],[,$Assets,Liabilities,$\backslash$table$[[$Common$],[$Stock$]],$Retained Earnings,Revenues,Expenses,Net Income$],[$June $12,2026,,,,,,,],[,,,,,,,],[$September $17,2026,,,,,,,],[$December $31,2026,,,,,,,],[$March $4,2027,,,,,,,],[,,,,,,,]]$