FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Direct Write-Off Method
Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables:
Oct. 2: Received $2,890 from Paula Spitler and wrote off the remainder owed of $2,250 as uncollectible. If an amount box does not require an entry, leave it blank.
| Oct. 2 | |||
Dec. 20: Reinstated the account of Paula Spitler and received $2,250 cash in full payment.
| Dec. 20-Reinstate | |||
| Dec. 20-Collection | |||
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