Question: Refer to the information in exercise to complete the following

Refer to the information in Exercise to complete the following requirements.
On February 1 of the next period, the company determined that $950 in customer accounts is uncollectible; specifically, $200 for Laguna Co. and $750 for Malibu Co. Prepare the journal entry to write off those accounts.
On June 5 of that next period, the company unexpectedly received a $200 payment on a customer account, Laguna Company that had previously been written off in part a. Prepare the entries necessary to reinstate the account and to record the cash received.

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  • CreatedMarch 18, 2015
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