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9.10) 20 line journal ournal Chart of Accounts Instructions The following transactions were completed by The Irvine Company during t he current fiscal year ended
9.10)
ournal Chart of Accounts Instructions The following transactions were completed by The Irvine Company during t he current fiscal year ended December 31: Feb. 8 Received 40% of the $18,000 balance owed by Decoy Co., a bankrupt business, and wrote off the remainder as uncollectible. Reinstated the account of Seth Nelsen, which had been written off in the preceding year as uncollectible. Journalized the receipt of $7,350 cash in full payment of Seth's account. May 27 Aug. 13 Wrote off the $6,400 balance owed by Kat Tracks Co., which has no assets. Oct. 31 Reinstated the account f Dec. 31 Wrote off the following accounts as uncollectible (compound entry): Newbauer Co. Dec. 31 Based on an analysis of the $1,785,000 of accounts receivable, it was estimated that as uncollectible. Journalized the receipt of $3,880 cash in full payment of the account. $7,190; Bonneville Co., $5,500; Crow Distributors, $9,400; Fiber Optics, $1,110. $35.700 will be uncollectible. Journalized the adiustina entrv 20 line journal
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