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

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter5: Sales And Receivables

Section: Chapter Questions

Problem 44BE: Write-Off of Uncollectible Accounts King Enterprises had 27 customers utilizing its financial...

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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.

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