Question
Dexter Company applies the direct write-off method in accounting for uncollectible accounts. March 11 Dexter determines that it cannot collect $9,400 of its accounts receivable
Dexter Company applies the direct write-off method in accounting for uncollectible accounts.
| March | 11 | Dexter determines that it cannot collect $9,400 of its accounts receivable from its customer Leer Company. | ||
| 29 | Leer Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt. |
Prepare journal entries to record the above selected transactions of Dexter.
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1 Record write off of Leer Company account.
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2 Record the reinstatement of an account previously written off.
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3 Record the cash received on account.
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Connect For Computer Accounting With Quickbooks 2021
Authors: Author
20th Edition
1264069200, 9781264069200
