Question: Gate City Cycles had trouble collecting its account receivable from
Gate City Cycles had trouble collecting its account receivable from Sue Ann Noel. On June 19, 2014, Gate City finally wrote off Noel’s $ 700 account receivable. On December 31, Noel sent a $ 700 check to Gate City. Journalize the entries required for Gate City Cycles, assuming Gate City uses the direct write-off method.
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