Exercise $5-71($Algorithmic$)$

Collection of Amounts Previously Written Off

Customer Rob Hufnagel owes Kellman Corp. $$4,962.$ Kellman determines that the total amount is uncollectible and writes off all of Hufnagel's debt. Hufnagel later pays $$3,027$ to Kellman.

Required:

Make the appropriate journal entries to record the receipt of $$3027$ by Kellman.

Reverse portion of write$-$off

Record collection of accounts receivable