Journalize the following transactions in the accounts of Lamp Light Company, a restaurant supply company that uses
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Mar. 19. Sold merchandise on account to Midnight Delights Co., $37,500. The cost of the merchandise sold was $23,000.
Aug. 31. Received $22,000 from Midnight Delights Co. and wrote off the remainder owed on the sale of March 19 as uncollectible.
Dec. 22. Reinstated the account of Midnight Delights Co. that had been written off on August 31 and received $15,500 cash in full payment.
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Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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