Question: Assuming that the allowance method is being used, prepare journal entries to record the following transactions. Mar. 15 Sold merchandise to Baxter for $12,000 on

Assuming that the allowance method is being used, prepare journal entries to record the following transactions.

Mar. 15 Sold merchandise to Baxter for $12,000 on account.

Apr. 15 Received $6,000 from Foster.

Aug. 15 Wrote off Baxter's account as uncollectible.

Nov. 15 Unexpectedly received payment in full from Baxter.

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