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Underwood Corporation Assignment | Top Universities

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February 20th, 2020

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 $29,000. September 17, 2021, Receive $15,000 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 $44,000. May 20, 2022, Receive $10,000 from customers for services provided in 2021. July 2, 2022,

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Write off the remaining amounts owed from services provided in 2021. October 19, 2022, Receive $35,000 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. Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts. Get Accounting Homework Help Today.

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