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The following events occur for The Underwood Corporation during 2021 and 2022, its first two years of operations. June 12, 2021 Provide services to customers
The following events occur for The Underwood Corporation during 2021 and 2022, its first two years of operations.
June | 12, | 2021 | Provide services to customers on account for $31,400. | |||
September | 17, | 2021 | Receive $17,000 from customers on account. | |||
December | 31, | 2021 | Estimate that 40% of accounts receivable at the end of the year will not be received. | |||
March | 4, | 2022 | Provide services to customers on account for $46,400. | |||
May | 20, | 2022 | Receive $10,000 from customers for services provided in 2021. | |||
July | 2, | 2022 | Write off the remaining amounts owed from services provided in 2021. | |||
October | 19, | 2022 | Receive $37,000 from customers for services provided in 2022. | |||
December | 31, | 2022 | Estimate that 40% of accounts receivable at the end of the year 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.)
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