Question
On June 15, the Ted's Restaurant decided to write off the account of Michael Gacayan in the amount of $350. The Restaurant uses the direct
On June 15, the Ted's Restaurant decided to write off the account of Michael Gacayan in the amount of $350. The Restaurant uses the direct write off method of accounting for bad debts.
Required:
1.Make the necessary journal entry for June 15.
2.On August 10, the restaurant receives a cheque in the amount of $350 from Gacayan. Make the necessary entry or entries for this date.
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Accounting Principles Part 3
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
6th Canadian edition Volume 1
1118306805, 978-1118306802
