The following events occur for Morris Engineering during 2021 and 2022, its first two years of operations. February 2, 2021 Provide services to customers on account for $38,000. July 23, 2021 Receive $27,000 from customers on account. December 31, 2021 Estimate that 25% of uncollected accounts will not be received. April 12, 2022 Provide services to customers on account for $51,000. June 28, 2022 Receive $6,000 from customers for services provided in 2021. September 13, 2022 Write off the remaining amounts owed from services provided in 2021. October 5, 2022 Receive $45,000 from customers for services provided in 2022. December 31, 2022 Estimate that 25% of uncollected accounts will not be received. Record transactions for each date. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 1)Provide services to customers on account for $38,000. 2)Receive $27,000 from customers on account. 3)Estimate that 25% of uncollected accounts will not be received. 4)Provide services to customers on account for $51,000. 5)Receive $6,000 from customers for services provided in 2021. 6)Write off the remaining amounts owed from services provided in 2021. 7)Receive $45,000 from customers for services provided in 2022. 8)Estimate that 25% of uncollected accounts will not be received.
The following events occur for Morris Engineering during 2021 and 2022, its first two years of operations. February 2, 2021 Provide services to customers on account for $38,000. July 23, 2021 Receive $27,000 from customers on account. December 31, 2021 Estimate that 25% of uncollected accounts will not be received. April 12, 2022 Provide services to customers on account for $51,000. June 28, 2022 Receive $6,000 from customers for services provided in 2021. September 13, 2022 Write off the remaining amounts owed from services provided in 2021. October 5, 2022 Receive $45,000 from customers for services provided in 2022. December 31, 2022 Estimate that 25% of uncollected accounts will not be received. Record transactions for each date. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 1)Provide services to customers on account for $38,000. 2)Receive $27,000 from customers on account. 3)Estimate that 25% of uncollected accounts will not be received. 4)Provide services to customers on account for $51,000. 5)Receive $6,000 from customers for services provided in 2021. 6)Write off the remaining amounts owed from services provided in 2021. 7)Receive $45,000 from customers for services provided in 2022. 8)Estimate that 25% of uncollected accounts will not be received.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following events occur for Morris Engineering during 2021 and 2022, its first two years of operations.
| February | 2, | 2021 | Provide services to customers on account for $38,000. | |||
| July | 23, | 2021 | Receive $27,000 from customers on account. | |||
| December | 31, | 2021 | Estimate that 25% of uncollected accounts will not be received. | |||
| April | 12, | 2022 | Provide services to customers on account for $51,000. | |||
| June | 28, | 2022 | Receive $6,000 from customers for services provided in 2021. | |||
| September | 13, | 2022 | Write off the remaining amounts owed from services provided in 2021. | |||
| October | 5, | 2022 | Receive $45,000 from customers for services provided in 2022. | |||
| December | 31, | 2022 | Estimate that 25% of uncollected accounts will not be received. |
- Record transactions for each date. (If no entry is required for a particular transaction/event, select "No
Journal Entry Required" in the first account field.)
1)Provide services to customers on account for $38,000.
-
2)Receive $27,000 from customers on account.
-
3)Estimate that 25% of uncollected accounts will not be received.
-
4)Provide services to customers on account for $51,000.
-
5)Receive $6,000 from customers for services provided in 2021.
-
6)Write off the remaining amounts owed from services provided in 2021.
-
7)Receive $45,000 from customers for services provided in 2022.
-
8)Estimate that 25% of uncollected accounts will not be received.
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Provide services to customers on account for $38,000.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Feb. 2, 2021
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