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i need help please putingg the correct entry for this accounting question. thanks Knowledge Check 01 On December 31, management had determined that itwould not
i need help please putingg the correct entry for this accounting question. thanks
Knowledge Check 01 On December 31, management had determined that itwould not be able to collect the $1'200 owed to it by one of its customers. On January 15 in the next year, a check in the amount of $600 was unexpectedly received from this customer. Management does not expect any future collections from this customer. The company uses the direct write-off method to account for its uncollectible accounts. Prepare the necessary journal entry on January 15 to record the events by selecting 'the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. Prepare two separate journal entries. The first journal entry is toecord the reinstatement of the account receivable and the second is to record the receipt of cash. Answer is complete but not entirely correct. No Date January 15 January 15 General*JoumaI Accounts receivable Allowance for doubtful accounts Cash Accounts receivable Debit Credit 600 e 600 e 1 ,200 0
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