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.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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.

 

  1. 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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