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1. Newton Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Newton Company wrote off the $3,000 uncollectible account of

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1. Newton Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Newton Company wrote off the $3,000 uncollectible account of its customer, P. Best. On July 10, Newton received a check for the full amount of $3,000 from Best. On July 10, the entry or entries Newton makes to record the recovery of the bad debt is: A) Accounts Receivable-P. Best 3,000 Allowance for Doubtful Accounts 3,000 3,000 3,000 3,000 3,000 Cash.3,000 B) 3,000 Cash.... Bad Debts Expens.. C) 3,000 Bad Debts Expense.. Cash. 3,000 D) 3,000 3,000 . 3,000 Accounts Receivable-P. Bes.." Cash 3,000

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