Record the following transactions in the general journal, assuming the company uses the allowance method to account
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Record the following transactions in the general journal, assuming the company uses the allowance method to account for uncollectibles:
May 18 Sold goods to Peterson Office Supply, receiving a 120-day, 12-percent note for \(\$ 2,900\).
Sep. 15 The note is dishonored.
Nov. 30 After pursuing collection from Peterson Office Supply, wrote off the account as uncollectible.
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Related Book For
Financial Accounting
ISBN: 9780133118209
2nd Edition
Authors: Charles T. Horngren, Jr. Harrison, Walter T.
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