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help! Handel Company uses the allowance method for estimating uncollectible accounts. January 5 Sold merchandise to Terry Richman for $2,000, terms n/15. April 15 Received
help! Handel Company uses the allowance method for estimating uncollectible accounts. January 5 Sold merchandise to Terry Richman for $2,000, terms n/15. April 15 Received $600 from Terry Richman on account. August 21 Wrote off as uncollectible the balance of the Terry Richman account when she declared bankruptcy. October 5 Unexpectedly received a check for $300 from Terry Richman. It is not felt any more will be received from Richman. Prepare journal entries to record the above transactions: (Credit occount tities are automatically indented when the amount is entered. Do not indent manually.) Oct.5 (To reinstate a doubtful account) (To record payment on account)
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