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. Journal entry worksheet
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. Journal entry worksheet
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
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. |
- Write off the remaining amounts owed from services provided in 2021.
Note: Enter debits before credits.
|
Journal entry worksheet
- Estimate that 25% of uncollected accounts will not be received.
Note: Enter debits before credits.
|
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