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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 Direct write

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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 Direct write off 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 Stanton. Dec. 31 - We estimate 1.1% of our 83,980,000 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 $885,000. Ir no journal entry is needed, please indicate that with A "Nu a entsy seed" No points will be awarded for leaving the space blank Dates are provided. Descriptions are not required. DIRECT WRITE-OFE METHOD Date Account DR CR July 7 Dates are provided. Descriptions are not required DIRECT WRITE-OE METHOD Date Account DR CR Iuly (Nov. 2

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