alculate net accounts receivable at the end of 2021 and 2022.
Chapter16: Accounting Periods And Methods
Section: Chapter Questions
Problem 33P
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Question
The following events occur for Morris Engineering during 2021 and 2022, its first two years of operations.
February | 2, | 2021 | Provide services to customers on account for $32,600. | |||
July | 23, | 2021 | Receive $22,500 from customers on account. | |||
December | 31, | 2021 | Estimate that 25% of uncollected accounts will not be received. | |||
April | 12, | 2022 | Provide services to customers on account for $45,600. | |||
June | 28, | 2022 | Receive $6,000 from customers for services provided in 2021. | |||
September | 13, | 2022 | Write off the remaining amounts owed from services provided in 2021. | |||
October | 5, | 2022 | Receive $40,500 from customers for services provided in 2022. | |||
December | 31, | 2022 | Estimate that 25% of uncollected accounts will not be received. |
Calculate net
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