Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables: Oct. 2: Received $1,140 from Elita Ramirez and wrote off the remainder owed of $2,570 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 Dec. 20 : Reinstated the account of Elita Ramirez and received $2,570 cash in full payment. If an amount box does not reguire an entry, leave it blank, Dec. 20-Reinstate Dec. 20-Collection Accounts Payable-Elita Ramirez Accounts Receivable-Elita Ramirez Allowance for Doubtful Accounts Bad Debt Expense Cash

Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables: Oct. 2: Received $1,140 from Elita Ramirez and wrote off the remainder owed of $2,570 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 Dec. 20 : Reinstated the account of Elita Ramirez and received $2,570 cash in full payment. If an amount box does not reguire an entry, leave it blank, Dec. 20-Reinstate Dec. 20-Collection Accounts Payable-Elita Ramirez Accounts Receivable-Elita Ramirez Allowance for Doubtful Accounts Bad Debt Expense Cash

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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