Journalize the following transactions using the allowance method of accounting for uncollectible receivables: Aug. 7. Received $175
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Aug. 7. Received $175 from Roosevelt McLair and wrote off the remainder owed of $400 as uncollectible.
Nov. 23. Reinstated the account of Roosevelt McLair and received $400 cash in full payment.
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Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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