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Gate City Cycles had trouble collecting its account receivable from Simon Peterman. On June 1 9 , 2 0 2 4 , Gate City Cycles
Gate City Cycles had trouble collecting its account receivable from Simon Peterman. On June Gate City Cycles finally wrote off Peterman's $ account receivable. On December Peterman sent a $ check to Gate City Cycles.
Joumalize the entries required for Gate City Cycles, assuming Gate City Cycles uses the direct writeoff method.
On June Gate City Cycles wrote off Peterman's $ account receivable. Journalize the entry.Record debits first, then credits. Select the explanation on the last line of the joumal entry table.
tableDateAccounts and Explanation,Debit,CreditJun
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