Entries for uncollectible accounts, using direct write-off method Instructions Chart of Accounts Journal Instructions Jan. June 19 2 Sold merchandise on account to Dr. Kyle Norby, $16,590. The cost of the goods sold was $9,660. Received $4,010 from Dr. Kyle Norby and wrote off the remainder owed on the sale of January 19 as uncollectible. Oct. 23 Reinstated the account of Dr. Kyle Norby that had been written off on June 2 and received $12,580 cash in full payment. Journalize the above transactions in the accounts of Canyon River Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles. ASSETS REVENUE 410 Sales 110 Cash 111 Petty Cash 121 Accounts Receivable-Dr. Kyle Norby 610 Interest Revenue 131 Interest Receivable EXPENSES 132 Notes Receivable 510 Cost of Goods Sold 520 Sales Salaries Expense 141 Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation-Store Equipment 193 Office Equipment 194 Accumulated Depreciation Office Equipment 521 Advertising Expense 522 Depreciation Expense-Store Equipment 523 Delivery Expense 524 Repairs Expense 529 Selling Expenses 530 Office Salaries Expense 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 531 Kent Expense 193 Office Equipment 194 Accumulated Depreciation Office Equipment 532 Depreciation Expense-Office Equipment 533 Insurance Expense LIABILITIES 534 Office Supplies Expense 210 Accounts Payable 211 Salaries Payable 535 Store Supplies Expense 536 Credit Card Expense 537 Cash Short and Over 213 Sales Tax Payable 538 Bad Debt Expense 214 Interest Payable 215 Notes Payable 539 Miscellaneous Expense 710 Interest Expense EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary Journalize the transactions in the accounts of Canyon River Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receiv. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY