Question: Solstice Company determines on October 1 that it cannot collect $50,000 of its accounts receivable from its customer P. Moore. It used the direct write-off

Solstice Company determines on October 1 that it cannot collect $50,000 of its accounts receivable from its customer P. Moore. It used the

Solstice Company determines on October 1 that it cannot collect $50,000 of its accounts receivable from its customer P. Moore. It used the direct write-off method to record this loss on October 1. On October 30, P. Moore surprisingly pays the $50,000 to Solstice Company Record Solstice's entry(ies) to reflect recovery of this bad debt on October 30. (You do not have to record the October 1 entry, that entry was already recorded back on October 1) View transaction list Journal entry worksheet 2 Record the reinstatement of the account previously written off. Note: Enter debits before credits. Date General Journal Debit Credit Oct 30 hat entry was already recorded back on October 1) View transaction list Journal entry worksheet Record the cash received on account. Note: Enter debits before credits. Date General Journal Debit Credit Oct 30 Record entr Clear entr View general journal

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