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.