Cash | ||||
Particulars | Particulars | Amount | Particulars | Amount |
2021 | Accounts receivable | 25000 | Balance | 25000 |
25000 | 25000 | |||
2022 | Beg balance | 25000 | Balance | 80000 |
accounts receivable | 10000 | |||
accounts receivable | 45000 | |||
80000 | 80000 |
Accounts receivable | ||||
Particulars | Amount | Particulars | Amount | |
2021 | Sales | 41000 | Cash | 25000 |
Balance | 16000 | |||
41000 | 41000 | |||
2022 | Beg Balance | 16000 | Cash | 10000 |
Sales | 56000 | Cash | 45000 | |
Allowance for doubtful debts | 6000 | |||
Balance | 11000 | |||
72000 | 72000 |
Allowance for uncollectibles | ||||
Particulars | Amount | Particulars | Amount | |
2021 | Balance | 7200 | Bad debts expense | 7200 |
7200 | 7200 | |||
2022 | Bad debts recovery | 1200 | Beg Balance | 7200 |
Accounts receivable | 6000 | Bad debts expense | 4950 | |
Balance | 4950 | |||
12150 | 12150 |
Cash | ||
2021 | Beg balance | 0 |
Accounts receivable | 25000 | |
End Balance | 25000 | |
2022 | Beg Balance | 25000 |
accounts receivable | 10000 | |
accounts receivable | 45000 | |
End balance | 80000 |
Accounts receivable | ||
2021 | Beg balance | 0 |
Sales | 41000 | |
Cash received | -25000 | |
Balance | 16000 | |
2022 | Beg balance | 16000 |
Sales | 56000 | |
Cash | -10000 | |
Allowance for uncollectible | -6000 | |
Cash | -45000 | |
Balance | 11000 |
Allowance for uncollectibles | ||
2021 | Beg Balance | 0 |
Bad debts | 7200 | |
End balance | 7200 | |
2022 | Beg Balance | 7200 |
Bad debts recovery | -1200 | |
Accounts receivable | -6000 | |
Bad debts expense | 4950 | |
Balance | 4950 |
Net accounts receivable | |||
2021 | 2022 | ||
Total accounts receivable | 16000 | 11000 | |
Less: allowance for uncollectible | 7200 | 4950 | |
Net accounts receivable0 | 8800 | 6050 |
Required information Problem 5-3A Record transactions related to accounts receivable (L05-3,5-4, 5-5) (The following information applies...
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...
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 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...
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...
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 (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...
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 $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, 2022 Provide services to customers on account for $56,000. May...
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 $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, 2022 Provide services to customers on account for $56,000. May...
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 $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, 2022 Provide services to customers on account for $56,000. May...
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...