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 $38,000. July 23, 2021 Receive $27,000 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 $51,000. 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 $45,000 from customers for services provided in 2022. December 31, 2022 Estimate that 25% of uncollected accounts will not be received. 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.) 1)Provide services to customers on account for $38,000. 2)Receive $27,000 from customers on account. 3)Estimate that 25% of uncollected accounts will not be received. 4)Provide services to customers on account for $51,000. 5)Receive $6,000 from customers for services provided in 2021. 6)Write off the remaining amounts owed from services provided in 2021. 7)Receive $45,000 from customers for services provided in 2022. 8)Estimate that 25% of uncollected accounts will not be received.

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter6: Investing And Financing Activities

Section: Chapter Questions

Problem 4.9C

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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 $38,000.
July	23,	2021	Receive $27,000 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 $51,000.
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 $45,000 from customers for services provided in 2022.
December	31,	2022	Estimate that 25% of uncollected accounts will not be received.

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.)

1)Provide services to customers on account for $38,000.

2)Receive $27,000 from customers on account.
3)Estimate that 25% of uncollected accounts will not be received.
4)Provide services to customers on account for $51,000.
5)Receive $6,000 from customers for services provided in 2021.
6)Write off the remaining amounts owed from services provided in 2021.
7)Receive $45,000 from customers for services provided in 2022.
8)Estimate that 25% of uncollected accounts will not be received.

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Provide services to customers on account for $38,000.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Feb. 2, 2021

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