[The following information applies to the questions displayed below.] The following events occur for The Underwood Corporation during 2018 and 2019, its first two years of operations. June 12, 2018 Provide services to customers on account for $39,200. September 17, 2018 Receive $23,500 from customers on account December 31, 2018 Estimate that 45% of accounts receivable at the end of the year will not be received. March 4, 2019 Provide services to customers on account for $54,200. May 20, 2019 Receive $10,000 from customers for services provided in 2018. July 2, 2019 Write off the remaining amounts owed from services provided in 2018. October 19, 2019 Receive $43,500 from customers for services provided in 2019. December 31, 2019 Estimate that 45% of accounts receivable at the end of the year will not be received. View transaction list Journal entry worksheet 2 6 7 8 Estimate that 45% of accounts receivable at the end of the year will not be received. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2019 Bad debt expense Allowance for uncollectible accounts Record entry Clear entry View general journal 3. Calculate the net realizable value of accounts receivable at the end of 2018 and 2019. 2019 2018 Total accounts receivable Net realizable value