Direct write$-$off method

Journalize the following transactions, using the direct write$-$off method of accounting for uncollectible receivables.

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Mar. $17$: Received $$3,400$ from Shawn McNeely and wrote off the remainder owed of $$4,280$ as uncollectible. If an amount box does not require an entry, leave it blank.

DateAccountDebitCredit

Mar. $17$ Entries for uncollectible receivables, using allowance method

Journalize the following transactions in the accounts of Zippy Interiors Company, a restaurant supply company that uses the allowance method of accounting for

uncollectible receivables:

May $24.$ Sold merchandise on account to Old Town Cafe, $$11,000.$ The cost of goods sold was $$7,900.$

Sept. $30.$ Received $$2,200$ from Old Town Cafe and wrote off the remainder owed on the sale of May $24$ as uncollectible.

Dec. $7.$ Reinstated the account of Old Town Cafe that had been written off on September $30$ and received $$8,800$ cash in full payment.

If an amount box does not require an entry, leave it blank.

May $24-$sale

May $24-$cost

Sept. $30$

Dec. $7-$reinstate

Dec. $7-$collection

fill in

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July $29$: Reinstated the account of Shawn McNeely and received $$4,280$ cash in full payment. If an amount box does not require an entry, leave it blank.

DateAccountDebitCredit

July $29$

July $29$