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. (15 points) Jordan Co. uses the allowance method of accounting for uncollectible accounts. Jordan Co. accepted a $5,000, 12%, 90-day note dated May 16,
. (15 points) Jordan Co. uses the allowance method of accounting for uncollectible accounts. Jordan Co. accepted a $5,000, 12%, 90-day note dated May 16, from Beckam Co. in exchange for its past-due account receivable. Make the necessary general journal entries for Jordan Co. on May 16 and the August 14 maturity date, assuming that the Note is held until maturity and collected in full at that time. You may omit explanations. Show any work below the journal entry table. Date Account Titles and Explanations Debit Credit (6 points) Prepare general journal entries for the following transactions of Norman Company assuming they use the allowance method to account for uncollectible accounts. pril 15 Wrote off $1,500 owed by Guy Co. from a previous sale. July 15 Guy Co. paid $1000 of the amount written off on April 15 You may omit explanations. Show any work below the journal entry table. Date Account Titles and Explanations Debit Credit 5
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