Journalize the following transactions in the accounts of Canyon River Medical Co , a medical equipment company that uses the direct write off method of accounting for uncollectible receivables Date Transaction Jan 19 Sold merchandise on account to Dr Kyle Norby, $58,100 The cost of goods sold was $31,400 June 2 Received $13,900 from Dr Kyle Norby and wrote off the remainder owed on the sale of January 19 as uncollectible Oct 23 Reinstated the account of Dr Kyle Norby that had been written off on June 2 and received $44,200 cash in full payment If an amount box does not require an entry, leave it blank Date Account Debit Credit Jan 19 sale Accounts Payable Dr Kyle NorbyAccounts Receivable Dr Kyle NorbyAllowance for Doubtful AccountsCashSales Select Select Accounts Payable Dr Kyle NorbyAccounts Receivable Dr Kyle NorbyAllowance for Doubtful AccountsCashSales Select Select Jan 19 cost Accounts Payable Dr Kyle NorbyAccounts Receivable Dr Kyle NorbyCashCost of Goods SoldInventory Select Select Accounts Payable Dr Kyle NorbyAccounts Receivable Dr Kyle NorbyCashCost of Goods SoldInventory Select Select June 2 Accounts Payable Dr Kyle NorbyAccounts Receivable Dr Kyle NorbyAllowance for Doubtful AccountsCashSales Select Select Accounts Payable Dr Kyle NorbyAccounts Receivable Dr Kyle NorbyAllowance for Doubtful AccountsBad Debt ExpenseCost of Goods Sold Select Select Accounts Payable Dr Kyle NorbyAccounts Receivable Dr Kyle NorbyAllowance for Doubtful AccountsBad Debt ExpenseCash Select Select Oct 23 reinstate Accounts Payable Dr Kyle NorbyAccounts Receivable Dr Kyle NorbyAllowance for Doubtful AccountsBad Debt ExpenseCost of Goods Sold Select Select Accounts Payable Dr Kyle NorbyAccounts Receivable Dr Kyle NorbyAllowance for Doubtful AccountsBad Debt ExpenseCash Select Select Oct 23 collection Accounts Payable Dr Kyle NorbyAccounts Receivable Dr Kyle NorbyAllowance for Doubtful AccountsBad Debt ExpenseCash Select Select Accounts Payable Dr Kyle NorbyAccounts Receivable Dr Kyle NorbyAllowance for Doubtful AccountsCashSales Select Select

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Posted on Apr 24, 2024

Journalize the following transactions in the accounts of Canyon River Medical Co., a medical equipment company that uses the direct write-off method of accounting for

Journalize the following transactions in the accounts of Canyon River Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables:

Date	Transaction
Jan. 19.	Sold merchandise on account to Dr. Kyle Norby, $58,100. The cost of goods sold was $31,400.
June 2.	Received $13,900 from Dr. Kyle Norby and wrote off the remainder owed on the sale of January 19 as uncollectible.
Oct. 23.	Reinstated the account of Dr. Kyle Norby that had been written off on June 2 and received $44,200 cash in full payment.

If an amount box does not require an entry, leave it blank.

Date	Account	Debit	Credit
Jan. 19-sale	Accounts Payable-Dr. Kyle NorbyAccounts Receivable-Dr. Kyle NorbyAllowance for Doubtful AccountsCashSales	- Select -	- Select -
	Accounts Payable-Dr. Kyle NorbyAccounts Receivable-Dr. Kyle NorbyAllowance for Doubtful AccountsCashSales	- Select -	- Select -
Jan. 19-cost	Accounts Payable-Dr. Kyle NorbyAccounts Receivable-Dr. Kyle NorbyCashCost of Goods SoldInventory	- Select -	- Select -
	Accounts Payable-Dr. Kyle NorbyAccounts Receivable-Dr. Kyle NorbyCashCost of Goods SoldInventory	- Select -	- Select -
June 2	Accounts Payable-Dr. Kyle NorbyAccounts Receivable-Dr. Kyle NorbyAllowance for Doubtful AccountsCashSales	- Select -	- Select -
	Accounts Payable-Dr. Kyle NorbyAccounts Receivable-Dr. Kyle NorbyAllowance for Doubtful AccountsBad Debt ExpenseCost of Goods Sold	- Select -	- Select -
	Accounts Payable-Dr. Kyle NorbyAccounts Receivable-Dr. Kyle NorbyAllowance for Doubtful AccountsBad Debt ExpenseCash	- Select -	- Select -
Oct. 23-reinstate	Accounts Payable-Dr. Kyle NorbyAccounts Receivable-Dr. Kyle NorbyAllowance for Doubtful AccountsBad Debt ExpenseCost of Goods Sold	- Select -	- Select -
	Accounts Payable-Dr. Kyle NorbyAccounts Receivable-Dr. Kyle NorbyAllowance for Doubtful AccountsBad Debt ExpenseCash	- Select -	- Select -
Oct. 23-collection	Accounts Payable-Dr. Kyle NorbyAccounts Receivable-Dr. Kyle NorbyAllowance for Doubtful AccountsBad Debt ExpenseCash	- Select -	- Select -
	Accounts Payable-Dr. Kyle NorbyAccounts Receivable-Dr. Kyle NorbyAllowance for Doubtful AccountsCashSales	- Select -	- Select -

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To journalize the transactions described using the direct writeoff method for uncollectible receivables well follow the appropriate accounting entries ... blur-text-image