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In January, our company sold merchandise on account to Stanton Company for $48,700. In the space below, journalize the following transactions using the Allowance method.

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In January, our company sold merchandise on account to Stanton Company for $48,700. In the space below, journalize the following transactions using the Allowance method. July 7 - Received 10,200 from Stanton Company and wrote off the remainder owed on the January sale as uncollectible. Nov. 2- Reinstated the account of Stanton Company that had been written off on July 7 and received $38.500 cash in full payment from Station. Dec. 31- We estimate 1.1% of our $3,980,000 credit sales to be uncollectible. If applicable, the allowance for doubtful accounts currently has a debit balance of 58,000 and Accounts Receivable has a balance of 5885,000. If no jumal entry is needed, please indicate that with "A" or "No journal entry needed. No petites will be awarded for leaving the space blank Dates are provided. Descriptions are not required. ALLOWANCE METHOD Date Account DR CR July 7 ALLOWANCE METHOD Date Account DR CR Irulya New 2 Invest

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