Solution-Allowance for uncollectable accounts

Allowance for uncollectable accounts

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Reference no: EM13337641

The following events occur for The Underwood Corporation during 2012 and 2013, its first two years of operations.


June 12, 2012	Provide services to customers on account for $36,300.
September 17, 2012	Receive $10,500 from customers on account.
December 31, 2012	Estimate that 40% of accounts receivable at the end of the year will not be received.
March 4, 2013	Provide services to customers on account for $50,000.
May 20, 2013	Receive $19,100 from customers for services provided in 2012.
July 2, 2013	Write off the remaining amounts owed from services provided in 2012.
October 19, 2013	Receive $16,200 from customers for services provided on account in 2013.
December 31, 2013	Estimate that 45% of accounts receivable at the end of the year will not be received.

How do you post transaction to the following accounts: cash, accounts receivable, and allowance for uncollectable accounts?

Reference no: EM13337641

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Allowance for uncollectable accounts

Reference no: EM13337641

Reference no: EM13337641

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