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Journalize the following transactions, using the allowance method of accounting for uncollectible receivables. Jan. 17: Received $1,930 from Ian Kearns and wrote off the remainder
Journalize the following transactions, using the allowance method of accounting for uncollectible receivables. Jan. 17: Received $1,930 from Ian Kearns and wrote off the remainder owed of $2,740 as uncollectible. If an amount box does not require an entry, leave it blank. Apr. 6: Reinstated the account of Ian Kearns and received $2,740 cash in full payment
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