Refer to the information in BE56. Determine the financial statement effects of collecting cash from an account

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Refer to the information in BE5–6. Determine the financial statement effects of collecting cash from an account previously written off as uncollectible.


Data from in BE5-6

Barnes Books allows for possible bad debts. On May 7, Barnes writes off a customer account of $7,000. On September 9, the customer unexpectedly pays the $7,000 balance. Record the cash collection on September 9.

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Financial Accounting

ISBN: 9781260786521

6th Edition

Authors: David Spiceland

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