Question

Prepare journal entries to record the following selected transactions of Ridge Company.
Mar. 21 Accepted a $ 9,500, 180- day, 8% note dated March 21 from Tamara Jackson in granting a time extension on her past-due account receivable.
Sept. 17 Jackson dishonors her note when it is presented for payment.
Dec. 31 After exhausting all legal means of collection, Ridge Company writes off Jackson’s account against the Allowance for Doubtful Accounts.



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  • CreatedNovember 26, 2013
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