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One of your customers, Jim Dobbs, owes you $5,000. Please write the journal entries for the following transactions using the allowance method of accounting for
One of your customers, Jim Dobbs, owes you $5,000. Please write the journal entries for the following transactions using the allowance method of accounting for uncollectible receivables: a) June 9 - Received $1,000 from Jim Dobbs. b) June 10 - Jim Dobbs informed you that he cannot pay the remaining balance, so you wrote off the remainder owed of $4,000. c) Oct. 11 - Reinstated the account of Jim Dobbs and received $4,000 cash in full payment
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