Direct Write-Off Method Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables.
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Direct Write-Off Method
Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables.
Mar. 17: Received $2,630 from Matthew Chapman and wrote off the remainder owed of $4,790 as uncollectible. If an amount box does not require an entry, leave it blank.
Mar. 17 | Cash | ||
Bad Debt Expense | |||
Accounts Receivable-Matthew Chapman |
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July 29: Reinstated the account of Matthew Chapman and received $4,790 cash in full payment.
July 29 | Accounts Receivable-Matthew Chapman | ||
Bad Debt Expense | |||
July 29 | Cash | ||
Accounts Receivable-Matthew Chapman |
Related Book For
Financial Accounting
ISBN: 978-1305088436
14th edition
Authors: Carl S. Warren, Jim Reeve, Jonathan Duchac
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