Julia Alvarez, owner of Alvarez Rentals, uses the allowance method in accounting for uncollectible accounts. Record the
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Julia Alvarez, owner of Alvarez Rentals, uses the allowance method in accounting for uncollectible accounts. Record the following transactions in general journal form:
July 7 Wrote off $5,350 owed by Randy Dalzell, who has no assets.
Aug. 12 Wrote off $2,870 owed by Jason Flint, who declared bankruptcy.
Sept. 27 Reinstated the account of Randy Dalzell, which had been written off on July 7, and received $5,350 cash in full settlement.
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DATE GENERAL JOURNAL 20July 7 Allowance for Bad Debts Sept DESCRIPTION Accounts Receivable...View the full answer
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