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A retailer applies the allowance method in accounting for uncollectible accounts. Prepare journal entries to record its following selected transactions. 12/31/20X1 The retailer estimates $3,000
A retailer applies the allowance method in accounting for uncollectible accounts. Prepare journal entries to record its following selected transactions. 12/31/20X1 The retailer estimates $3,000 of its accounts receivable are uncollectible. The retailer determines that it cannot collect $400 of its accounts receivable from a customer named ZZZ Company. 2/14/20X2 4/1/20X2 ZZZ Company unexpectedly pays its account in full to the retailer, which then records its recovery of this bad debt General Journal Date Debit Credit
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