On June 15, 2018, Vance, Inc. sold ($ 750) worth of merchandise to Dell Company. On November
Question:
On June 15, 2018, Vance, Inc. sold \(\$ 750\) worth of merchandise to Dell Company. On November 20, 2018, Vance, Inc., wrote off Dell's account. On March 10, 2019, Dell Company paid the account in full. What are the journal entries that Vance, Inc. should make for the write-off and the recovery assuming that Vance, Inc., uses
(a) the allowance method of handling credit losses and
(b) the direct write-off method?
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