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 $34,400.July 23, 2021 Receive $24,000 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 $47,400.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 $42,000 from customers for services provided in 2022.December 31, 2022 Estimate that 25% of uncollected accounts will not be received. 2. Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts.

Name: The following events occur for Morris Engineering during 2021 and 2022
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Description: 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 $34,400.July 23, 2021 Receive $24,000 from customers on account.December 31, 2021

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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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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 $34,400.
July	23,	2021	Receive $24,000 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 $47,400.
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 $42,000 from customers for services provided in 2022.
December	31,	2022	Estimate that 25% of uncollected accounts will not be received.

2. Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts.

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