Using the allowance method of accounting for uncollectible receivables.
April 1 Sold merchandise on account to Jim Dobbs, $7,200. The cost of the merchandise is $5,400.
June 10 received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder.
Oct. 11 reinstated the account of Jim Dobbs and received cash in full payment.
Required:
Journalize the above transactions Refer to the Chart of Accounts for exact wording of account titles.