Question
Feb. 3. Sold merchandise on account to Dr. Jill Hall, $17,190. The cost of the merchandise sold was $9,550. Sept. 10. Received $5,500 from Dr.
| Feb. | 3. | Sold merchandise on account to Dr. Jill Hall, $17,190. The cost of the merchandise sold was $9,550. |
| Sept. | 10. | Received $5,500 from Dr. Jill Hall and wrote off the remainder owed on the sale of February 3 as uncollectible. |
| Dec. | 21. | Reinstated the account of Dr. Jill Hall that had been written off on September 10 and received $11,690 cash in full payment. |
Journalize the above transactions in the accounts of Midwest 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.
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Corporate Finance Core Principles and Applications
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford
3rd edition
978-0077971304, 77971302, 978-0073530680, 73530689, 978-0071221160, 71221166, 978-0077905200
