Journalize the following transactions in the accounts of Laser Tech Co., a medical equip- ment company that uses the direct write-off method of accounting for uncollectible receivables and a perpetual inventory system:

Feb. 23. May 10. Dec. 2. Sold merchandise on account to Dr. James Solomon, $31,500. The cost of the goods sold was $17,500. Received $10,000 from Dr. James Solomon and wrote off the remainder owed on the sale of

February 23 as uncollectible. Reinstated the account of Dr. James Solomon that had been written off

on May 10 and received $21,500 cash in full payment.