Question
Instructions Jan. 19. Sold merchandise on account to Dr. Dale Van Dyken, $30,000. The cost of the merchandise sold was $20,500. July 7. Received $12,000
Instructions Jan. 19. Sold merchandise on account to Dr. Dale Van Dyken, $30,000. The cost of the merchandise sold was $20,500. July 7. Received $12,000 from Dr. Dale Van Dyken and wrote off the Nov. 2 Required: remainder owed on the sale of January 19 as uncollectible. Reinstated the account of Dr. Dale Van Dyken that had been written off on July 7 and received $18,000 cash in full payment. Journalize the above transactions in the accounts of Champion Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles. Journal Journalize the transactions in the accounts of Champion Medical Co., a medical equipment company t receivables. Refer to the Chart of Accounts for exact wording of account titles. DATE DESCRIPTION 1 2 3 6 JOURNAL POST REF
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