an. 19. Sold merchandise on account to Dr. Dale Van Dyken, $16,590. The cost of the merchandise sold was $9,660.July 7. Received $4,010 Dr. Dale Van Dyken and wrote off the remainder owed on the sale of January 19 as uncollectible.Nov. 2. Reinstated the account of Dr. Dale Van Dyken that had been written off on July 7 and received $12,580 cash in full payment.Required:Journalize the above transactions in the accounts of Champion Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles. Journalize the transactions in the accounts of Champion Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles.PAGE 1JOURNALACCOUNTING EQUATIONDATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY1234567891011

> Journalize the following transactions using the direct write-off method of accounting for Apr. 1 Sold merchandise on account to Jim Dobbs, $6,000. The cost of goods sold is $4,000. June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. Oct. 11 Reinstated the account of Jim Dobbs and received cash in full payment. If an amount box does not require an entry, leave it blank. Apr. 1 Apr. 1 June 10 Oct. 11 ctible receivables. Oct. 11 ?

December 31, current year. Balances January 1, current year Accounts receivable (various customers) $ 120,000 Allowance for doubtful accounts 9,000 In the following order, except for cash sales, the company sold merchandise and made collections on credit terms 4/10, n30 (assume a unit sales price of $700 in all transactions). Transactions during current year a. Sold merchandise for cash, $260,000. b. Sold merchandise to R. Smith; invoice price, $9,000. c. Sold merchandise to K. Miller; invoice price, $23,000. d. Two days after purchase date, R. Smith returned one of the units purchased in (b) and received account credit. e. Sold merchandise to B. Sears; invoice price, $26,000. f. R. Smith paid his account in full within the discount period. g. Collected $93,000 cash from customer sales on credit in prior year, all within the discount periods. h. K. Miller paid the invoice in (c) within the discount period. i. Sold merchandise to R. Roy; invoice price, $25,500. j. Three days after…

Petra Co. returned defective goods costing $25,000 to Irbid Company on April 19, for credit. The goods were purchased April 10, on credit, terms 3/10, n/30. The entry by Petra Co. on April 19, in receiving full credit is(using perpetual system)      Accounts Payable........................      25,000                Purchase Discounts.............................750                Merchandise Inventory........................24,250   Accounts Payable............................25,000                Merchandise Inventory......................... 750                Cash....................................................24,250   Accounts Payable.................................  25,000  Merchandise Inventory.............................. 750                               Cash....................................  5,750   Accounts Payable............................... 25,000           Merchandise Inventory............................25,000