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July 3. Wrote off the remaining $75,550 owed on account as uncollectible. Financial Statement Effects Oct. 8. Reinstated the account that had been written off

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July 3. Wrote off the remaining $75,550 owed on account as uncollectible. Financial Statement Effects Oct. 8. Reinstated the account that had been written off on July 3. (Do not Oct. 8 Received $75,550 cash in full payment for the reinstated account

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