Using Allowance Method Journalize the following transactions in the accounts of Metromark Company, a restaurant supply company

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Using Allowance Method Journalize the following transactions in the accounts of Metromark Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables.

Feb. 11. Sold merchandise on account to Dakota Co., $13,900. The cost of the merchandise sold was $10,000.

Apr. 15. Received $3,100 from Dakota Co. and wrote off the remainder owed on the sale of February 11 as uncollectible.

Sept. 3. Reinstated the account of Dakota Co. that had been written off on April 15 and received $10,800 cash in full payment.

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Accounting

ISBN: 978-0324662962

23rd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Posted Date: May 25, 2018 01:10 AM

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Using Allowance Method Journalize the following transactions in the accounts of Metromark Company, a restaurant supply company

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