Dexter Company uses the direct write-off method.   March   11   Dexter determines that it cannot collect $9,100 of its accounts receivable from Leer Co.     29   Leer Co. unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt.   Prepare journal entries to record the above transactions. Record write off of Leer Co. account. Record the reinstatement of an account previously written off. Record the cash received on account.

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 26Q: A customer was unable to pay the accounts receivable on time in the amount of $34,000. The customer...
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Dexter Company uses the direct write-off method.
 

March   11   Dexter determines that it cannot collect $9,100 of its accounts receivable from Leer Co.
    29   Leer Co. unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt.

 
Prepare journal entries to record the above transactions.

Record write off of Leer Co. account.

Record the reinstatement of an account previously written off.

Record the cash received on account.

 

 

 

Dexter Company uses the direct write-off method.
March 11 Dexter determines that it cannot collect $9,100 of its accounts receivable from Leer co.
29 Leer co. unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt.
Prepare Journal entries to record the above transactions.
View transaction list
Journal entry worksheet
1
2
3
Record the cash received on account.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
March 29
Record entry
Clear entry
View general joumal
Transcribed Image Text:Dexter Company uses the direct write-off method. March 11 Dexter determines that it cannot collect $9,100 of its accounts receivable from Leer co. 29 Leer co. unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt. Prepare Journal entries to record the above transactions. View transaction list Journal entry worksheet 1 2 3 Record the cash received on account. Note: Enter debits before credits. Date General Journal Debit Credit March 29 Record entry Clear entry View general joumal
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