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Make journal entries to record the following under ( a ) the direct write-off method and ( b ) the allowance method. May 3 Sal

Make journal entries to record the following under (a) the direct write-off method and (b) the allowance method.

May 3Sal Company determines that it cannot collect its accounts receivable of $2,000 from Joey Company.
May 21Sal Company unexpectedly receives payment of $2,000 cash from Joey Company toward its previously written-off account. Sal records recovery of this bad debt.student submitted image, transcription available belowstudent submitted image, transcription available belowstudent submitted image, transcription available belowstudent submitted image, transcription available belowstudent submitted image, transcription available belowstudent submitted image, transcription available below


 
 
 
 
 
 

Journal entry worksheet < 1 2 3 Sal Company determines that it cannot collect its accounts receivable of $2,000 from Joey Company. Note: Enter debits before credits. Date May 03 General Journal Accounts receivable-Joey Company Debit Credit 2,000 2,000 Record entry Clear entry View general journal >

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