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. Required: 1. Record transactions for each date. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Write off the remaining amounts owed from services provided in 2021. Note: Enter debits before credits. Date General Journal Debit Credit Sep. 13, 2022 4,100 Journal entry worksheet Estimate that 25% of uncollected accounts will not be received. Note: Enter debits before credits. Date General Journal Debit Credit Dec. 31, 2022 Bad Debt Expense Allowance for Uncollectible Accounts
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. Required: 1. Record transactions for each date. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Write off the remaining amounts owed from services provided in 2021. Note: Enter debits before credits. Date General Journal Debit Credit Sep. 13, 2022 4,100 Journal entry worksheet Estimate that 25% of uncollected accounts will not be received. Note: Enter debits before credits. Date General Journal Debit Credit Dec. 31, 2022 Bad Debt Expense Allowance for Uncollectible Accounts
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. Required: 1. Record transactions for each date. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Write off the remaining amounts owed from services provided in 2021. Note: Enter debits before credits. Date General Journal Debit Credit Sep. 13, 2022 4,100 Journal entry worksheet Estimate that 25% of uncollected accounts will not be received. Note: Enter debits before credits. Date General Journal Debit Credit Dec. 31, 2022 Bad Debt Expense Allowance for Uncollectible Accounts
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.
Required:
1. Record transactions for each date. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Journal entry worksheet
Write off the remaining amounts owed from services provided in 2021.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Sep. 13, 2022
4,100
Journal entry worksheet
Estimate that 25% of uncollected accounts will not be received.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Dec. 31, 2022
Bad Debt Expense
Allowance for Uncollectible Accounts
Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.
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