February 13. Sold merchandise on accounts to Dr. Ben Katz , $120,000. The cost of merchandise sold was $72,000 May 4. Received $90,000 from Dr. Ben Katz and wrote off the remainder owed on the sale of February 13 as uncollectible. Nov 19. Reinstated the account of Dr. Ben Katz that had been written off on May 4 and received $30,000 cash in full payment