Problem $5-3$A $($Static$)$ Record transactions related to accounts recelvable $($L$05-3,5-4,5-5)$

The following events occur for The Underwood Corporation during $2024$ and $2025,$ its first two years of operations.

June $12,2924$

September $17,2024$

December $31,2024$

March $4,2925$

May $20,2025$

July $2,2025$

October $19,2625$

December $31,2025$

Provide services to customers on account for $$41,060.$

Receive $$25,0e$ from customers on account.

Estimate that $45\%$ of accounts receivable at the end of the year will not be received.

Provide services to customers on account for $$56,060.$

Receive $$10,0$ from customers for services provided in $2024.$

Write off the remaining amounts owed from services provided in $2024.$

Receive $$45,00$ from customers for services provided in $2025.$

Estimate that $45\%$ of accounts receivable at the end of the year will not be received.

Requlred:

Record transactions for each date.

Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts.

Calculate net accounts receivable reported in the balance sheet at the end of $2024$ and $2025.$

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Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts.