Allowance Method

Journalize the following transactions, using the allowance method of accounting for uncollectible receivables.

Mar. $17$: Received $$2,810$ from Ian Kearns and wrote off the remainder owed of $$2,610$ as uncollectible. If an amount box does not require an entry, leave it blank.

Mar. $17$

Allowance for Doubtful Accounts $v$

Accounts Receivable$-$Ian Kearns $v$

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July $29$: Reinstated the account of Ian Kearns and received $$2,610$ cash in full payment.

July $29$ Accounts Receivable$-$Ian Kearns $$

Allowance for Doubtful Accounts $$

July $29$

Accounts Receivable$-$Ian Kearns