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On December 31, after making a concerted effort, management determines that it will not be able to collect the $1,200 owed to it by its
On December 31, after making a concerted effort, management determines that it will not be able to collect the $1,200 owed to it by its customer Acme, Incorporated. The company uses the direct write-off method to account for uncollectible accounts. Prepare the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
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