Using the same data as in Exercise, assume that Morgans Shop uses the specific charge- off method
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In Exercise Morgan’s Shop had the following selected transactions this year. Assuming that Morgan’s Shop uses the allowance method of accounting for bad debts expense, record the three transactions in general journal form. Allowance for Doubtful Accounts has a credit balance of $ 346.
a. Wrote off the account of D. Yang as uncollectible, $ 280. b. Reinstated the account of R. Fedor, which had been written off during the preceding year, $ 65; received $ 65 cash in full payment.
Record transactions (a) and (b) in general journal form.
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Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
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