Question: Entries for Uncollectible Accounts, using Direct Write-Off Method Journalize the following transactions in the accounts of Canyon River Medical Co., a medical equipment company that
Entries for Uncollectible Accounts, using Direct Write-Off Method Journalize the following transactions in the accounts of Canyon River Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables Jan. 19 Sold merchandise on account to Dr. Kyle Norby, $6,400. The cost of goods sold was $3,000. June 2 Received $500 from Dr. Kyle Norby and wrote off the remainder owed on the sale of January 19 as uncollectible. Oct. 23 Reinstated the account of Dr. Kyle Norby that had been written off on June 2 and received $5,900 cash in full payment. If an amount box does not require an entry, leave it blank. Jan. 19-sale Jan, 19-cost June 2 Oct. 23-reinstate Oct. 23-collection 0000 Entries for Uncollectible Accounts, using Direct Write-Off Method Journalize the following transactions in the accounts of Canyon River Medical Co. Jan. 19 Sold merchandise on account to Dr. Kyle Norby, $6,400. The cost of go June 2 Received $500 from Dr. Kyle Norby and wrote off the remainder owed Oct. 23 Reinstated the account of Dr. Kyle Norby that had been written off on ] If an amount box does not require an entry, leave it blank. Jan. 19-sale Jan. 19-cost < June 2 Oct. 23-reinstate Oct. 23-collection
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