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Bad Debt Recovery - Allowance Method In 2017, ABC Co-wrote off the Richard Company $9,000 Accounts Receivable. Richard Company wants to do business with us

Bad Debt Recovery- Allowance Method

In 2017, ABC Co-wrote off the Richard Company $9,000 Accounts Receivable. Richard Company wants to do business with us and has agreed to pay ABC $6,000 of the previous amount owed.

Required: Record the Journal Entry(s) for the recovery.

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