Question: Dexter Company applies the direct write off method in accounting

Dexter Company applies the direct write- off method in accounting for uncollectible accounts. Prepare journal entries to record the following selected transactions of Dexter.
March 11 Dexter determines that it cannot collect $ 45,000 of its accounts receivable from its customer Lester Company.
29 Lester Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt.

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  • CreatedNovember 26, 2013
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