Write off the remaining amounts owed from services provided

Reference no: EM13682745

The following events occur for The Underwood Corporation during 2015 and 2016, its first two years of operations.
June 12, 2015 Provide services to customers on account for $40,400.
September 17, 2015 Receive $24,500 from customers on account.
December 31, 2015 Estimate that 45% of accounts receivable at the end of the year will not be received.
March 4, 2016 Provide services to customers on account for $55,400.
May 20, 2016 Receive $10,000 from customers for services provided in 2015.
July 2, 2016 Write off the remaining amounts owed from services provided in 2015.
October 19, 2016 Receive $44,500 from customers for services provided in 2016.
December 31, 2016 Estimate that 45% of accounts receivable at the end of the year will not be received.

Question: Write off the remaining amounts owed from services provided in 2015. Record the transaction.

Reference no: EM13682745

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