The following selected transactions were taken from the records of Shipway Company for the first year...
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The following selected transactions were taken from the records of Shipway Company for the first year of its operations ending December 31:1 Apr. 13. Wrote off account of Dean Sheppard, $6,400. May 15. Received $3,230 as partial payment on the $8,590 account of Dan Pyle. Wrote off the remaining balance as uncollectible. July 27. Received $6,460 from Dean Sheppard, whose account had been written off on April 13. Reinstated the account and recorded the cash receipt. Dec. 31. Wrote off the following accounts as uncollectible (record as one journal entry): Paul Chapman Duane DeRosa $4,330 3,230 Teresa Galloway 1,940 Emie Klatt 2,710 Marty Richey 970 31. If necessary, Journalize the year-end adjusting entry for uncollectible accounts. If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. a. Journalize the transactions under the direct write-off method Apt. 13 May 15 The following selected transactions were taken from the records of Shipway Company for the first year of its operations ending December 31:1 Apr. 13. Wrote off account of Dean Sheppard, $6,400. May 15. Received $3,230 as partial payment on the $8,590 account of Dan Pyle. Wrote off the remaining balance as uncollectible. July 27. Received $6,460 from Dean Sheppard, whose account had been written off on April 13. Reinstated the account and recorded the cash receipt. Dec. 31. Wrote off the following accounts as uncollectible (record as one journal entry): Paul Chapman Duane DeRosa $4,330 3,230 Teresa Galloway 1,940 Emie Klatt 2,710 Marty Richey 970 31. If necessary, Journalize the year-end adjusting entry for uncollectible accounts. If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. a. Journalize the transactions under the direct write-off method Apt. 13 May 15
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