17 Exercise 7-9 Writing off receivables LO P2 1 points Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis. Skipped Days Past Due Total $570,000 Accounts receivable Percent uncollectible 1 to 30 $90,000 2% $396,000 1% 31 to 60 $36,000 5% 61 to 90 $18,000 7% eBook Over 90 $30,000 10% Print References a. On February 1 of the next period, the company determined that $6,800 in customer accounts was uncollectible; specifically, $900 for Oakley Co. and $5,900 for Brookes Co. Prepare the journal entry to write off those two accounts. b. On June 5 of that next period, the company unexpectedly received a $900 payment on a customer account, Oakley Company, that had previously been written off in part a. Prepare the entries necessary to reinstate the account and to record the cash received. Journal entry worksheet 1 2 3 > The company determined that $6,800 in customer accounts is uncollectible; specifically, $900 for Oakley Co. and $5,900 for Brookes Co. Prepare the journal entry to write off those accounts. Note: Enter debits before credits. Date General Journal Debit Credit Feb 01 Record entry Clear entry View general journal Journal entry worksheet Record the reinstatement of Oakley's account, if necessary. Note: Enter debits before credits. Date General Journal Debit Credit Jun 05 Record entry Clear entry View general journal Journal entry worksheet Record the receipt of the amount due from Oakley. Note: Enter debits before credits. General Journal Debit Credit Date Jun 05 Record entry Clear entry View general journal