Question: Question 2: Journalize the following transactions, using the allowance method of accounting for uncollectible receivables: July 9. Received $1,500 from Silas Thompson and wrote off

Question 2:

Journalize the following transactions, using the allowance method of accounting for uncollectible receivables:

July 9. Received $1,500 from Silas Thompson and wrote off the remainder owed of $3,600 as uncollectible.

Oct. 11 Reinstated the account of Silas Thompson and received $3,600 cash in full payment.

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