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ID: B 6. Journalize the following transactions using the direct write-off method of accounting for uncollectible receivables. June 10 Received $1,200 from Jim Dobbs and
ID: B 6. Journalize the following transactions using the direct write-off method of accounting for uncollectible receivables. June 10 Received $1,200 from Jim Dobbs and wrote off the remainder owed of $4,200. Oct. 11 Reinstated the account of Jim Dobbs and received $4,200 cash in full payment. 7. Blackwell Industries received a 120-day, 9% note for $150,000, dated August 13 from a customer on account. OK Required: 1. Determine the due date of the note. 2. Determine the maturity value of the note. Journalize the entry to record the receipt of the payment of the note at maturity 3
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