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For a business that uses the allowance method of accounting for uncollectible receivables: a. Journalize the entries to record the following: 1. Record the adjusting
For a business that uses the allowance method of accounting for uncollectible receivables: a. Journalize the entries to record the following: 1. Record the adjusting entry of December 31, the end of the first fiscal year to record the bad del expense. The accounts recevabile account as a balance of $800,000, and the contra asset account before adjustment has a debit balance of $600. Analysis of the receivables indicates collectible receivables of $1.con 2. In March of the next year, the $350 owed by Frank Co on account is written off as uncollectible 3. In November of the next year. $200 of the Frenk Co. account is reinstated and payment of the moutieceived 4. In December of the next year is received on the $600 owed by Dodperco, and the remainder witten off as unclectible If an amount box does not require an entry leave it blank the D. Journalize the entries to record the folowing assuming the company uses the direct to
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