Question

The following information applies to the questions displayedbelow.] The following events occur for The Underwood Corporationduring 2015 and 2016, its first two years of operations. June 12,2015 Provide services to customers on account for $30,800.September 17, 2015 Receive $16,500 from customers on account.December 31, 2015 Estimate that 45% of accounts receivable at theend of the year will not be received. March 4, 2016 Provideservices to customers on account for $45,800. May 20, 2016 Receive$10,000 from customers for services provided in 2015. July 2, 2016Write off the remaining amounts owed from services provided in2015. October 19, 2016 Receive $36,500 from customers for servicesprovided in 2016. December 31, 2016 Estimate that 45% of accountsreceivable at the end of the year will not be received.

 

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