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On January 1, Wei company begins the accounting period with a $50,000 credit balance in allowance for doubtful accounts. a. On February 1, the company
On January 1, Wei company begins the accounting period with a $50,000 credit balance in allowance for doubtful accounts. a. On February 1, the company determined that $10,800 in customer accounts was uncollectible; specifically, $2,900 for Oakley Co. and $7,900 for Brookes Co. Prepare the journal entry to write off those two accounts. b. On June 5, the company unexpectedly received a $2,900 payment on a customer account, Oakley Company, that had previously been written off in part a. Prepare the entries necessary to reinstate the account and to record the cash received View transaction list Journal entry worksheet 23 The company determined that $10,800 in customer accounts is uncollectible; specifically, $2,900 for Oakley Co. and $7,900 for Brookes Co. Prepare the journal entry to write off those accounts. Note: Enter debits before credits. Date General Journal Debit Credit Feb 01 Journal entry worksheet Record the reinstatement of Oakley's account, if necessary. Note: Enter debits before credits. General Journal Debit Credit Date Jun 05 Record entry Clear entry View general journal Journal entry worksheet
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