The following events occur for The Turner Corporation during 2024 and 2025, its first two years of operations. June 12, 2024 Provide services to customers on account for $38,600. Receive $23,000 from customers on account. September 17, 2024 December 31, 2024 March 4, 2025 May 20, 2025 July 2, 2025 October 19, 2025 December 31, 2025 Required: Estimate that 45% of accounts receivable at the end of the year will not be received. Provide services to customers on account for $53,600. Receive $10,000 from customers for services provided in 2024. Write off the remaining amounts owed from services provided in 2024. Receive $43,000 from customers for services provided in 2025. Estimate that 45% of accounts receivable at the end of the year will not be received. 1. Record transactions for each date. 2. Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts. 3. Calculate net accounts receivable reported in the balance sheet at the end of 2024 and 2025. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Record transactions for each date. (If no entry is required for a particular transaction/event, select "No Journal Entry Req first account field.) View transaction list Journal entry worksheet < 1 2345678 Provide services to customers on account for $38,600. Note: Enter debits before credits. Date June 12, 2024 General Journal Debit Credit
The following events occur for The Turner Corporation during 2024 and 2025, its first two years of operations. June 12, 2024 Provide services to customers on account for $38,600. Receive $23,000 from customers on account. September 17, 2024 December 31, 2024 March 4, 2025 May 20, 2025 July 2, 2025 October 19, 2025 December 31, 2025 Required: Estimate that 45% of accounts receivable at the end of the year will not be received. Provide services to customers on account for $53,600. Receive $10,000 from customers for services provided in 2024. Write off the remaining amounts owed from services provided in 2024. Receive $43,000 from customers for services provided in 2025. Estimate that 45% of accounts receivable at the end of the year will not be received. 1. Record transactions for each date. 2. Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts. 3. Calculate net accounts receivable reported in the balance sheet at the end of 2024 and 2025. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Record transactions for each date. (If no entry is required for a particular transaction/event, select "No Journal Entry Req first account field.) View transaction list Journal entry worksheet < 1 2345678 Provide services to customers on account for $38,600. Note: Enter debits before credits. Date June 12, 2024 General Journal Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following events occur for The Turner Corporation during 2024 and 2025, its first two years of operations.
June 12, 2024
Provide services to customers on account for $38,600.
September 17, 2024 Receive $23,000 from customers on account.
December 31, 2024 Estimate that 45% of accounts receivable at the end of the year will not be
received.
March 4, 2025
May 20, 2025
July 2, 2025
October 19, 2025
December 31, 2025
Required:
Provide services to customers on account for $53,600.
Receive $10,000 from customers for services provided in 2024.
Write off the remaining amounts owed from services provided in 2024.
Receive $43,000 from customers for services provided in 2025.
Estimate that 45% of accounts receivable at the end of the year will not be
received.
1. Record transactions for each date.
2. Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible
Accounts.
3. Calculate net accounts receivable reported in the balance sheet at the end of 2024 and 2025.
Complete this question by entering your answers in the tabs below.
Required 1
Required 2 Required 3
Record transactions for each date. (If no entry is required for a particular transaction/event, select "No Journal Entry Req
first account field.)
View transaction list
Journal entry worksheet
1
2 3 4 5 6 7
8
Provide services to customers on account for $38,600.
Note: Enter debits before credits.
Date
June 12, 2024
General Journal
Debit
Credit
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