Kordas Corp. uses the allowance method to account for uncollectibles. On October 31, it wrote off a

Question:

Kordas Corp. uses the allowance method to account for uncollectibles. On October 31, it wrote off a $750 account of a customer, D. Elwick. On December 9, it receives a $400 payment from Elwick.
1. Prepare the journal entry or entries for October 31.
2. Prepare the journal entry or entries for December 9; assume no additional money is expected from Elwick.