Journalize the following transactions, using the allowance method of accounting for uncollectible receivables. Oct. 2: Received $1,910
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Journalize the following transactions, using the allowance method of accounting for uncollectible receivables.
Oct. 2:Received $1,910 from William Pruitt and wrote off the remainder owed of $1,660 as uncollectible. If an amount box does not require an entry, leave it blank.
Dec. 20:Reinstated the account of William Pruitt and received $1,660 cash in full payment.
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