Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables

ml has consistently adjusted its allowance ac- 10. The note receivable dishonored in Discussion Ques- count at the end of the fiscal year by adding a fixed percent of the period's sales on account. After seven years, the balance in Allowance for Doubtful tion 9 is paid on December 30 by the maker, plus interest for 30 days at 9%. What entry should be made to record the receipt of the payment? asic Exercises BE 8-1 Direct write-off method Journalize the following transactions, using the direct write-off method of accounting for un- collectible receivables Mar. July Obj. 3 SHOW ME HOW 17 29 Received $275 from Shawn McNeely and wrote off the remainder owed of $1,000 as uncollectible. Reinstated the account of Shawn McNeely and received $1,000 cash in full payment. BE 8-2 Allowance method Journalize the following transactions, using the allowance method of ible receivables: Obj. 4 for uncollect SHOW ME HOW Mar. 17 Received $275 from Shawn McNeely and wrote off the remainder owed of $1,000 as uncollectible. July 29 Reinstated the account of Shawn McNeely and received $1,000 cash in full payment