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LOOT Co sells one product and estimates the allowance for doubtful accounts to be 5% of gross accounts receivables. Presented below is the adjusted trial

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LOOT Co sells one product and estimates the allowance for doubtful accounts to be 5% of gross accounts receivables. Presented below is the adjusted trial balance (*) of LOOT Co. on December 31, 2020 Credit ( Debit (0 709 170 17 000 57 700 15 300 23 000 1 150 38 420 Accounts Property. plant & equipment, gross Accumulated depreciation Long-term Investments in bonds inventory Accounts receivable, gross Allowance for doubtful accounts Cash Share capitol-ordinary (3 par) Retained earrings Bonds payable (long-term) Accrued liabilities (short-term) Accounts payable Notes payable (short-term) Sales revenue (Cost of goods sold Selling expenses Bad debt expense Cash dividends Totals 756 000 53 000 9 000 1 100 BOO 840 24 900 11 400 4 400 2 600 1 800 863 790 863 790 In March 2021, LOOT Co. wrote off 400 of accounts recelvables as uncollectible. Of these written-off amounts, 200 cash were subsequently collected in June 2021. Prepare the journal entry to record the recovery of the uncollectible receivables in June 2021. Use as few lines as possible. Credit Debit Account Select

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