Exercise 7-5 (Algo) Writing off receivables LO P2 On January 1, Wel Company begins the accounting perlod with a $37,000 credit balance In Allowance for Doubtful Accounts. a. On February 1, the company determined that $8,200 in customer accounts was uncollectible; specifically, $1,600 for Oakley Company and $6,600 for Brookes Company Prepare the Journal entry to write off those two accounts. b. On June 5 , the company unexpectedly recelved a $1,600 payment on a customer account, Oakley Company, that had previously been written off in part a. Prepare the entries to reinstate the account and record the cash recelved. Journal entry worksheet On February 1, the company determined that $8,200 in customer accounts was uncollectible; specifically, $1,600 for Oakley Company and $6,600 for Brookes Company. Prepare the joumal entry to write off those two accounts. Note: Enter debits before credits. Exercise 7-5 (Algo) Writing off receivables LO P2 On January 1, Wel Company begins the accounting period with a $37,000 credit balance in Allowance for Doubtful Accounts. a. On February 1, the company determined that $8,200 in customer accounts was uncollectible; specifically, $1,600 for Oakley Company and $6,600 for Brookes Company Prepare the Journal entry to write off those two accounts. b. On June 5 , the company unexpectedly recelved a $1,600 payment on a customer account, Oakley Company, that had previously been written off in part a. Prepare the entries to reinstate the account and record the cash recelved. Journal entry worksheet Record the reinstatement of Oakley's account, if necessary. Note: Enter debits before credits