Write off and Recovery Entries Prepare the appropriate journal entries for the following transactions for Warren Co. a. On February 1, the company determined that $6,800 in customer accounts is uncollectible; specifically, $900 for DeadBeat Co. and $5,900 for NoPay Co. Prepare the journal entry to write off those accounts. b. On June 5, the company unexpectedly received a $900 payment on a customer account, Dead Beat Company, that had previously been written off in part a. Prepare the entries necessary to reinstate the account and to record the cash received.

Write off and Recovery Entries Prepare the appropriate journal entries for the following transactions for Warren Co. a. On February 1, the company determined that $6,800 in customer accounts is uncollectible; specifically, $900 for DeadBeat Co. and $5,900 for NoPay Co. Prepare the journal entry to write off those accounts. b. On June 5, the company unexpectedly received a $900 payment on a customer account, Dead Beat Company, that had previously been written off in part a. Prepare the entries necessary to reinstate the account and to record the cash received.

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter5: Accounting Systems

Section: Chapter Questions

Problem 8E

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