Question: Exercise 9-9 (Static) Comparing direct write-off and allowance method entries LO P1, P2 Prepare journal entries to record the following under (a) the direct write-off

Exercise 9-9 (Static) Comparing direct write-off and allowance method entries LO P1, P2 Prepare journal entries to record the following under (a) the direct write-off method and (b) the allowance method. May 3 Sal Company determines that it cannot collect its accounts receivable of $2,000 from Joey Company. May 21 Sal Company unexpectedly receives payment of $2,000 cash from Joey Company toward its previously written-off account. Sal records recovery of this bad debt. Sal Company determines that it cannot collect its accounts receivable of $2,000 from Joey Company

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