Business, 29.07.2020 03:01 mommies3grls3

The following events occur for The Underwood Corporation during 2021 and 2022, its first two years of operations. June 12, 2021, Provide services to customers on account for $33,800
September 17, 2021, Receive $19,000 from customers on account
December 31, 2021, Estimate that 40% of accounts receivable at the end of the year will not be received.
March 4, 2022, Provide services to customers on account for $48,800
May 20, 2022, Receive $10,000 from customers for services provided in 2021.
July 2, 2022, Write off the remaining amounts owed from services provided in 2021
October 19, 2022, Receive $39,000 from customers for services provided in 2022.
December 31, 2022, Estimate that 40% of accounts receivable at the end of the year will not be received.
Calculate net accounts receivable at the end of 2021 and 2022.
2021 2021
Total accounts receivable
Less: Allowance for uncollectible acounts
Net accounts receivable

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