Faster Office Supply Company uses the allowance method to account for uncollectibles. On January 31, it wrote

Question:

Faster Office Supply Company uses the allowance method to account for uncollectibles. On January 31, it wrote off an $8,750 account of a customer, Glass Tech Company. On July 15, it received a $5,000 payment from Glass Tech.
a. Make the appropriate entry or entries for January 31.
b. Make the appropriate entry or entries for July 15.

Fantastic news! We've Found the answer you've been seeking!