journal entry

Required information Under the allowance method, bad debts expense is recorded with an adjustment at the end of each accounting period that debits the Bad Debts Expense account and credits the Allowance for Doubtful Accounts. The uncollectible accounts are later written off with a debit to the Allowance for Doubtful Accounts. On December 31, management had determined that it would not be able to collect the $1.200 owed to it by one of its customers. On Jan 15 in the next year, a check in the amount of $600 was unexpectedly received from this customer. Management does not expect any future collections from this customer. The company uses the allowance method to account for its uncollectible accounts. Prepare the necessary Journal entry on January 15 to record the events by selecting the account names from the drop down menus and entering the dollar amounts in the debitor credit columns Prepare two separate journal entries. The first journal entry is to record the reinstatement of the account receivable and the second is to record the receipt of cash. View transaction list Journal entry worksheet Prepare the journal entry to record the reinstatement of the account receivable Note: Enter debits before credits General Journal Debit Date Credit Jan 15 Journal entry worksheet prepare the journal entry to record the receipt of cash. Note: Enter debits before credits. General Journal Debit Credit Date Jan. 15 Clear entry Record entry View general journal