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Instruction Using the direct write-off method of accounting for uncollectible receivables. Transactions: April 1 June 10 Oct. 11 Sold merchandise on account to Jim Dobbs,
Instruction Using the direct write-off method of accounting for uncollectible receivables. Transactions: April 1 June 10 Oct. 11 Sold merchandise on account to Jim Dobbs, $6,600. The cost of the merchandise is $2,640. Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. Reinstated the account of Jim Dobbs for and received cash in full payment. Required: Journalize the above transactions. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to nearest dollar amount
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