Question: Allowance Method Journalize the following transactions, using the allowance method of accounting for uncollectible receivables: Oct. 2. Received $2,360 from Ian Kearns and wrote off

Allowance Method Journalize the following transactions, using the allowance method of

Allowance Method Journalize the following transactions, using the allowance method of accounting for uncollectible receivables: Oct. 2. Received $2,360 from Ian Kearns and wrote off the remainder owed of $2,570 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 Dec. 20. Reinstated the account of Ian Kearns and received $2,570 cash in full payment. Reinstate Collection Direct Write-Off Method Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables: Oct. 2: Received $2,350 from Ian Kearns and wrote off the remainder owed of $5,830 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 Dec. 20: Reinstated the account of Ian Kearns and received $5,830 cash in full payment. Dec. 20-Reinstate Dec. 20-Collection

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