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Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables. Mar. 17: Received $2,210 from Shawn McNeely and wrote off the
Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables. Mar. 17: Received $2,210 from Shawn McNeely and wrote off the remainder owed of $1,720 as uncollectible. If an amount box does not require an entry, leave it blank. Mar Feedback Check My Work Remember that under the direct write-off method, Bad Debt Expense is not recorded until the customer's account is determined to be worthless. Journalize the following transactions, using the allowance method of accounting for uncollectible receivables. Mar. 17: Received $2,200 from Shawn McNeely and wrote off the remainder owed of $2,510 as uncollectible. If an amount box does not require an entry, leave it blank. Mal Feedback Check My Work When a customer account is identified as uncollectible, it is written off against the allowance account. July 29: Reinstated the account of Shawn McNeely and received $2,510 cash in full payment
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