1c Entries for Uncollectible Accounts, using Direct Write Off Method Journalize the following transactions in the accounts of Arrow Medical Co , a medical equipment company that uses the direct write off method of accounting for uncollectible receivables Jan 19 Sold merchandise on account to Dr Sinclair Welby, $56,800 The cost of the merchandise sold was $30,700 July 7 Received $14,800 from Dr Sinclair Welby and wrote off the remainder owed on the sale of January 19 as uncollectible Nov 2 Reinstated the account of Dr Sinclair Welby that had been written off on July 7 and received $42,000 cash in full payment If an amount box does not require an entry, leave it blank Select the entries account Jan 19 sale Accounts Payable Dr Sinclair Welby Accounts Receivable Dr Sinclair Welby Allowance for Doubtful Accounts Cash Sales Select Select Accounts Payable Dr Sinclair Welby Accounts Receivable Dr Sinclair Welby Allowance for Doubtful Accounts Cash Sales Select Select Jan 19 cost Accounts Receivable Dr Sinclair Welby Accounts Payable Dr Sinclair Welby Cash Cost of Merchandise Sold Merchandise Inventory Select Select Accounts Receivable Dr Sinclair Welby Accounts Payable Dr Sinclair Welby Cash Cost of Merchandise Sold Merchandise Inventory Select Select July 7 Accounts Payable Dr Sinclair Welby Accounts Receivable Dr Sinclair Welby Allowance for Doubtful Accounts Cash Cost of Merchandise Sold Select Select Accounts Payable Dr Sinclair Welby Accounts Receivable Dr Sinclair Welby Allowance for Doubtful Accounts Bad Debt Expense Cost of Merchandise Sold Select Select Accounts Payable Dr Sinclair Welby Accounts Receivable Dr Sinclair Welby Allowance for Doubtful Accounts Bad Debt Expense Cash Select Select Nov 2 reinstate Accounts Payable Dr Sinclair Welby Accounts Receivable Dr Sinclair Welby Allowance for Doubtful Accounts Bad Debt Expense Cost of Merchandise Sold Select Select Accounts Payable Dr Sinclair WelbyAccounts Receivable Dr Sinclair WelbyAllowance for Doubtful AccountsBad Debt ExpenseCost of Merchandise Sold Select Select Nov 2 collection Accounts Payable Dr Sinclair Welby Accounts Receivable Dr Sinclair Welby Cash Cost of Merchandise Sold Sales Select Select Accounts Payable Dr Sinclair Welby Accounts Receivable Dr Sinclair Welby Cash Cost of Merchandise Sold Sales Select Select

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Oct 01, 2024

1c Entries for Uncollectible Accounts, using Direct Write-Off Method Journalize the following transactions in the accounts of Arrow Medical Co., a medical equipment company that

1c Entries for Uncollectible Accounts, using Direct Write-Off Method

Journalize the following transactions in the accounts of Arrow Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables:

Jan. 19.	Sold merchandise on account to Dr. Sinclair Welby, $56,800. The cost of the merchandise sold was $30,700.
July 7.	Received $14,800 from Dr. Sinclair Welby and wrote off the remainder owed on the sale of January 19 as uncollectible.
Nov. 2.	Reinstated the account of Dr. Sinclair Welby that had been written off on July 7 and received $42,000 cash in full payment.

If an amount box does not require an entry, leave it blank.

Select the entries account

Jan. 19-sale	Accounts Payable-Dr. Sinclair Welby Accounts Receivable-Dr. Sinclair Welby Allowance for Doubtful Accounts Cash Sales	- Select -	- Select -
	Accounts Payable-Dr. Sinclair Welby Accounts Receivable-Dr. Sinclair Welby Allowance for Doubtful Accounts Cash Sales	- Select -	- Select -
Jan. 19-cost	Accounts Receivable-Dr. Sinclair Welby Accounts Payable-Dr. Sinclair Welby Cash Cost of Merchandise Sold Merchandise Inventory	- Select -	- Select -
	Accounts Receivable-Dr. Sinclair Welby Accounts Payable-Dr. Sinclair Welby Cash Cost of Merchandise Sold Merchandise Inventory	- Select -	- Select -
July 7	Accounts Payable-Dr. Sinclair Welby Accounts Receivable-Dr. Sinclair Welby Allowance for Doubtful Accounts Cash Cost of Merchandise Sold	- Select -	- Select -
	Accounts Payable-Dr. Sinclair Welby Accounts Receivable-Dr. Sinclair Welby Allowance for Doubtful Accounts Bad Debt Expense Cost of Merchandise Sold	- Select -	- Select -
	Accounts Payable-Dr. Sinclair Welby Accounts Receivable-Dr. Sinclair Welby Allowance for Doubtful Accounts Bad Debt Expense Cash	- Select -	- Select -
Nov. 2-reinstate	Accounts Payable-Dr. Sinclair Welby Accounts Receivable-Dr. Sinclair Welby Allowance for Doubtful Accounts Bad Debt Expense Cost of Merchandise Sold	- Select -	- Select -
	Accounts Payable-Dr. Sinclair WelbyAccounts Receivable-Dr. Sinclair WelbyAllowance for Doubtful AccountsBad Debt ExpenseCost of Merchandise Sold	- Select -	- Select -
Nov. 2-collection	Accounts Payable-Dr. Sinclair Welby Accounts Receivable-Dr. Sinclair Welby Cash Cost of Merchandise Sold Sales	- Select -	- Select -
	Accounts Payable-Dr. Sinclair Welby Accounts Receivable-Dr. Sinclair Welby Cash Cost of Merchandise Sold Sales	- Select -	- Select -