Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $2,000 account of a customer, C. Green. On March 9, it receives a $1,500 payment from Green. 1. Prepare the journal entry for January 31. 2. Prepare the journal entries for March 9; assume no additional money is expected from Green.

1. Record the write-off of Green's $2,000 account.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Jan 31

2. Record the reinstatement of Green's account, assuming no additional money is expected.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Mar 09

3. Record the cash receipt from Green.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Mar 09

Levine Company uses the perpetual inventory system.

Apr.		8		Sold merchandise for $9,200 (that had cost $6,799) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee.
		12		Sold merchandise for $10,000 (that had cost $6,480) and accepted the customer's Continental Card. Continental charges a 2.5% fee.

Prepare journal entries to record the above credit card transactions of Levine Company.

• Sold merchandise for $9,200 and accepted the customers Suntrust Bank Card. Suntrust charges a 4% fee.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Apr 08

• Record the cost of goods sold, $6,799.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Apr 08

• Sold merchandise for $10,000 and accepted the customers Continental Card. Continental charges a 2.5% fee.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Apr 12

• Record the cost of goods sold, $6,480.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Apr 12