Question: what are the answers and explanations Using the direct write-off method of accounting for uncollectible receivables. Transactions 1 Apri June 10 Sold merchandise on account
Using the direct write-off method of accounting for uncollectible receivables. Transactions 1 Apri June 10 Sold merchandise on account to Jim Dobbs, $7.500. The cost of the merchandise is $3,000 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder Reinstated the account of Jim Dobbs for and received cash in full payment. Oct 11 Required: Journalize the above transactions. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to nearest dollar amount
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