Question: Allowance Method Journalize the following transactions, using the allowance method of accounting for uncollectible receivables: Oct. 2. Received $2,690 from Keith MacPhearson 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 $2,690 from Keith MacPhearson and wrote off the remainder owed of $4,410 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 Dec. 20. Reinstated the account of Keith MacPhearson and received $4,410 cash in full payment. Reinstate Collection

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