Journalize the following transactions in the accounts of Zippy Interiors Company, a restaurant supply company that uses
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May 24 Sold merchandise on account to Old Town Cafe $18,450. The cost of goods sold was $11,000.
Sept. 30 Received $6,000 from Old Town Cafe and wrote off the remainder owed on the sale of May 24 as uncollectible.
Dec. 7 Reinstated the account of Old Town Cafe that had been written off on September 30 and received $12,450 cash in full payment?
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Related Book For
Financial And Managerial Accounting
ISBN: 9781337119207
14th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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