This is the last step I think of the last problem submitted if you need a reference. Thanks again. 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 $38,000.July 23, 2021 Receive $27,000 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 $51,000.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 $45,000 from customers for services provided in 2022.December 31, 2022 Estimate that 25% of uncollected accounts will not be received. Calculate net accounts receivable at the end of 2021 and 2022. Picture attached is how the chart looks that I will be filling out for the practice problem.

Net Accounts Receivables means accounts receivables after creating an allowance for the…

Answered: April 12, 2022 Provide services…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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This is the last step I think of the last problem submitted if you need a reference. Thanks again.

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 $38,000.
July	23,	2021	Receive $27,000 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 $51,000.
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 $45,000 from customers for services provided in 2022.
December	31,	2022	Estimate that 25% of uncollected accounts will not be received.

Calculate net accounts receivable at the end of 2021 and 2022.

Picture attached is how the chart looks that I will be filling out for the practice problem.

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