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June 2. Received $1,200 from Melissa Crone and wrote off the remainder owed of $4,000 as uncollectible. Oct. 9. Reinstated the account of Melissa Crone
June | 2. | Received $1,200 from Melissa Crone and wrote off the remainder owed of $4,000 as uncollectible. |
Oct. | 9. | Reinstated the account of Melissa Crone and received $4,000 cash in full payment. |
Journalize the above transactions, using the direct write-off method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles.
June | 2. | Received $1,200 from Melissa Crone and wrote off the remainder owed of $4,000 as uncollectible. |
Oct. | 9. | Reinstated the account of Melissa Crone and received $4,000 cash in full payment. |
Journalize the above transactions, using the direct write-off method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles.
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Chart of Accounts
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