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.

Required:
1.
Record transactions for each date. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

2.
Post transactions to the following accounts: Cash, Accounts Receivable, and Allowance for Uncollectible Accounts.

3.
Calculate the net realizable value of accounts receivable at the end of 2015 and 2016.

Explanation:

12-June

Dr Accounts revenue $40,400

   Cr Service revenue $40,400

17- September

Dr Cash $24,500

    Cr Accounts receivable $24,500

31- December

Dr Bad debt expense $7,155 [(40,400-24,500)*45%]

    Cr Allowance for uncollectible accounts $7,155

4- March

Dr Accounts receivable $55,400

    Cr Service revenue $55,400

20- May

Dr Cash $10,000

   Cr Accounts receivable $10,000

2- July

Dr Allowance for uncollectible accounts$5900    

    Cr Accounts receivable [40400-24,500-10,000]$5,900  

19- Oct

Dr Cash    $44,500    

   Cr Accounts receivable  $44,500

31- Dec

Dr Bad debts expense  $3,650    

 Cr Allowance for uncollectible accounts[(55,400-44,500)*45%-1255] 3,650

3.

2015:

total accounts receivable  15,900    

allowance for uncollectible accounts7,155    

net realizable value  8745 [15,900-7,155]

2016:

total accounts receivable  10,900

allowance for uncollectible accounts4,905

net realizable value  5995 [10,900-4,905]

the correct answer option is b. a single paragraph.

explanation:

when you are thinking about paragraph​ topics, you should always choose a subject that can be adequately addressed in a single paragraph.

a paragraph is a piece of writing consisting of a few sentences that deal with a single theme. it has only a single idea that the paragraph revolves around and talks about.

so a paragraph topic must be chosen wisely where a single idea can be communicated in a single paragraph.

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"