Assume the same facts as in Exercise 15.5, except that the recovery of the $7,400 from Ashley Madison was received on February 28, 2020. Give the entry in general journal form to record the reinstatement of Madison’s account and to record the receipt of her check.

In Exercise 15.5

On December 8, 2019, after a threatened lawsuit by Alonzo Plumbing, Ashley Madison paid the $7,400 account charged off on April 30, 2019 (Exercise 15.4). Give the entries in general journal form to reinstate Madison’s account and to record the receipt of her check.

In Exercise 15.4

On April 30, 2019, Alonzo Plumbing, which uses the allowance method, decided that the $7,400 account of Ashley Madison was worthless and should be written off. Give the general journal entry to record the write-off.