Dexter Company applies the direct write- off method in accounting for uncollectible accounts. Prepare journal entries to
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March 11 Dexter determines that it cannot collect $ 45,000 of its accounts receivable from its customer Lester Company.
29 Lester Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt.
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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March 11 Bad Debts Expense 45000 Accounts ReceivableLester Co 4500...View the full answer
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Related Book For 
Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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