Raynette Ramos, owner of Ramos Rentals, uses the allowance method in accounting for uncollectible accounts. Record the

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Raynette Ramos, owner of Ramos Rentals, uses the allowance method in accounting for uncollectible accounts. Record the following transactions in general journal form:

July 9 Wrote off $6,040 owed by Sue Sanchez, who has no assets.

Aug. 15 Wrote off $4,790 owed by Lonnie Jones, who declared bankruptcy.

Sept. 23 Reinstated the account of Sue Sanchez, which had been written off on July 9, and received $6,040 cash in full settlement.

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College Accounting

ISBN: 978-0538745192

20th Edition

Authors: Heintz and Parry

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Question Posted: Dec 22, 2011 03:11 AM

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Raynette Ramos, owner of Ramos Rentals, uses the allowance method in accounting for uncollectible accounts. Record the

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DATE GENERAL JOURNAL 20July 9 Allowance for Bad Debts Sept DESCRIPTION Accounts Receivable...View the full answer

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