Required Information Problem 5-3A Record transactions related to accounts receivable (LO5-3, 5-4, 5-5)
Problem 5-3A Record transactions related to accounts receivable (LO5-3, 5-4, 5-5)
[The following information applies to the questions displayed below.]
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 $30, 800.
September 17, 2821 Receive $16,500 from customers on account.
December 31, 2021 Estimate that 45% of accounts receivable at the end of the year will not be received.
March 4, 2022 Provide services to customers on account for $45,800.
May 20, 2822 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 $36, 500 from customers for services provided in 2022.
December 31, 2022 Estimate that 45% of accounts receivable at the end of the year will not be received.
Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts.
Homework Answers
| Cash | |||||||||
| Sep 17 2021 | 16500 | ||||||||
| Dec 31 2021 | 16500 | ||||||||
| May 20 2022 | 10000 | ||||||||
| Oct 19 2022 | 36500 | ||||||||
| Accounts Receivable | |||||||||
| June 12 2021 | $30,800 | Sep 17 2021 | 16500 | ||||||
| Dec 31 2021 | $14,300 | ||||||||
| Mar 4 2022 | 45800 | May 20 2022 | 10000 | ||||||
| July 2 2022 | 4300 | ||||||||
| Oct 19 2022 | 36500 | ||||||||
| Dec 31 2022 | $9,300 | ||||||||
| Allowance for Doubtful Debts | |||||||||
| Dec 31 2021 | 6435 | (14300*45%) | |||||||
| July 2 2022 | 4300 | Dec 31 2022 | 2050 | ((45800-36500)*45%)-(6435-4300 balance in allowance account) | |||||
| Dec 31 2022 | 4185 | ((45800-36500)*45%) | |||||||
| If any doubt please comment | |||||||||
Add Answer to:
Required Information Problem 5-3A Record transactions related to accounts receivable (LO5-3, 5-4, 5-5)
Problem 5-3A Record transactions related to accounts receivable (LO5-3, 5-4, 5-5) The following information applies to...
Problem 5-3A Record transactions related to accounts receivable (LO5-3, 5-4, 5-5) The following information applies to the questions displayed below. 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 $32,000. September 17, 2021 Receive $17,500 from customers on account. December 31, 2021 Estimate that 45% of accounts receivable at the end of the year will not be received. March 4, 2022 Provide services to customers on account...
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Required information Problem 5-3A Record transactions related to accounts receivable (L05-3,5-4, 5-5) (The following information applies to the questions displayed below.) 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 $41,000. September 17, 2021 Receive $25,000 from customers on account. December 31, 2021 Estimate that 45% of accounts receivable at the end of the year will not be received. March 4,...
Required Information Problem 5-3A Record transactions related to accounts receivable (L05-3,5-4,5-5) [The following information applies to...
Required Information Problem 5-3A Record transactions related to accounts receivable (L05-3,5-4,5-5) [The following information applies to the questions displayed below.] 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 $30,808. September 17, 2021 Receive $16,580 from customers on account. December 31, 2021 Estimate that 45% of accounts receivable at the end of the year will not be received March 4, 2022...
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Problem 5-3A Record transactions related to accounts receivable (L05-3,5-4,5-5) [The following information applies to the questions...
Problem 5-3A Record transactions related to accounts receivable (L05-3,5-4,5-5) [The following information applies to the questions displayed below. 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 $32,000. September 17, 2021 Receive $17,500 from customers on account. December 31, 2021 Estimate that 45% of accounts receivable at the end of the year will not be received. March 4, 2022 Provide services...
Problem 5-3A Record transactions related to accounts receivable (LO5-3,5-4,5-5) The following information applies to the questions...
Problem 5-3A Record transactions related to accounts receivable (LO5-3,5-4,5-5) The following information applies to the questions displayed below. The following events occur for The Underwood Corporation during 2021 and 2022, its first two years of operations. Provide service from customers and from services June 12, 2021 Provide services to customers on account for $32,000. September 17, 2021 Receive $17,500 from customers on account. December 31, 2021 Estimate that 45% of accounts receivable at the end of the year will not...
This is part 2 and 3 of the same problem, not different problems. Required Information [The...
This is part 2 and 3 of the same problem, not different
problems.
Required Information [The following information applies to the questions displayed below.] Part 2 of 3 The following events occur for The Underwood Corporation during 2021 and 2022. its first two years of operations. 1.66 points June 12, 2021 Provide services to customers on account for $36,800. September 17, 2021 Receive $21,5ee from customers on account. December 31, 2021 Estimate that 45% of accounts receivable at the end...
Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts. Required information...
Post transactions to the following accounts: Cash, Accounts
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Required information [The following information applies to the questions displayed below.) 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 $35,000. September 17, 2021 Receive $20,000 from customers on account. December 31, 2021 Estimate that 40% of accounts receivable at the end of the year will not...
Required information The following information applies to the questions displayed below. The following events occur for...
Required information The following information applies to the questions displayed below. The following events occur for The Underwood Corporation during 2021 and 2022, its first two years of operations. June 12, 2821 Provide services to customers on account for $38,000. September 17, 2021 Receive $22,500 from customers on account. December 31, 2021 Estimate that 45% of accounts receivable at the end of the year will not be received. March 4, 2022 Provide services to customers on account for $53,800. May...
This is part 2 and 3 of the same question, not separate questions Required Information (The...
This is part 2 and 3 of the same question, not separate
questions
Required Information (The following information applies to the questions displayed below.] Part 2 of 3 The following events occur for The Underwood Corporation during 2021 and 2022, its first two years of operations. 166 points Skipped June 12, 2021 Provide services to customers on account for $36,800. September 17, 2021 Receive $21,588 from customers on account. December 31, 2021 Estimate that 45% of accounts receivable at the...
Problem 5-3A Record transactions related to accounts receivable (LO5-3, 5-4, 5-5) The following information applies to the questions displayed below. 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 $32,000. September 17, 2021 Receive $17,500 from customers on account. December 31, 2021 Estimate that 45% of accounts receivable at the end of the year will not be received. March 4, 2022 Provide services to customers on account...
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Required Information Problem 5-3A Record transactions related to accounts receivable (L05-3,5-4,5-5) [The following information applies to the questions displayed below.] 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 $30,808. September 17, 2021 Receive $16,580 from customers on account. December 31, 2021 Estimate that 45% of accounts receivable at the end of the year will not be received March 4, 2022...
Record Transactions related to accounts
recievable
additional homework and attendance poi... Required information Problem 5-3A Record transactions related to accounts receivable (LO5-3,5-4,5-5) The following information applies to the questions displayed below. 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 400 of accounts receivable at the...
Problem 5-3A Record transactions related to accounts receivable (L05-3,5-4,5-5) [The following information applies to the questions displayed below. 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 $32,000. September 17, 2021 Receive $17,500 from customers on account. December 31, 2021 Estimate that 45% of accounts receivable at the end of the year will not be received. March 4, 2022 Provide services...
Problem 5-3A Record transactions related to accounts receivable (LO5-3,5-4,5-5) The following information applies to the questions displayed below. The following events occur for The Underwood Corporation during 2021 and 2022, its first two years of operations. Provide service from customers and from services June 12, 2021 Provide services to customers on account for $32,000. September 17, 2021 Receive $17,500 from customers on account. December 31, 2021 Estimate that 45% of accounts receivable at the end of the year will not...
This is part 2 and 3 of the same problem, not different
problems.
Required Information [The following information applies to the questions displayed below.] Part 2 of 3 The following events occur for The Underwood Corporation during 2021 and 2022. its first two years of operations. 1.66 points June 12, 2021 Provide services to customers on account for $36,800. September 17, 2021 Receive $21,5ee from customers on account. December 31, 2021 Estimate that 45% of accounts receivable at the end...
Post transactions to the following accounts: Cash, Accounts
Receivable, and Allowance for Uncollectible Accounts.
Required information [The following information applies to the questions displayed below.) 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 $35,000. September 17, 2021 Receive $20,000 from customers on account. December 31, 2021 Estimate that 40% of accounts receivable at the end of the year will not...
Required information The following information applies to the questions displayed below. The following events occur for The Underwood Corporation during 2021 and 2022, its first two years of operations. June 12, 2821 Provide services to customers on account for $38,000. September 17, 2021 Receive $22,500 from customers on account. December 31, 2021 Estimate that 45% of accounts receivable at the end of the year will not be received. March 4, 2022 Provide services to customers on account for $53,800. May...
This is part 2 and 3 of the same question, not separate
questions
Required Information (The following information applies to the questions displayed below.] Part 2 of 3 The following events occur for The Underwood Corporation during 2021 and 2022, its first two years of operations. 166 points Skipped June 12, 2021 Provide services to customers on account for $36,800. September 17, 2021 Receive $21,588 from customers on account. December 31, 2021 Estimate that 45% of accounts receivable at the...
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