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Journalize the following transactions using the direct write-off method of accounting for uncollectible receivables. June 10 Received $1,200 from Jim Dobbs and wrote off the
Journalize the following transactions using the direct write-off method of accounting for uncollectible receivables.
June 10 Received $1,200 from Jim Dobbs and wrote off the remainder owed of $4,200.
Oct. 11 Reinstated the account of Jim Dobbs and received $4,200 cash in full payment.
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