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Chapter $8$ Assignment

Alowance method

BE$\mathrm{.}08\mathrm{.}01.$ALGO

Journalize the following transactions, using the allowance method of accounting for

uncollectible receivables.

Mar. $17$: Received $$3,360$ from Shawn McNeely and wrote off the remainder owed of $$5,380$ as uncollectible. If an amount box does not require an entry, leave it blank.

Mar. $17$ Cash $$

Allowance for Doubtful Accounts

$$

$2.$ BE$\mathrm{.}08\mathrm{.}02.$ALGO

Accounts Receivable$-$Shawn McNeely

$xx$

$$

$5.$ BE$\mathrm{.}08\mathrm{.}06.$ALGO

$6.$ EX$\mathrm{.}08\mathrm{.}03.$BLANKSHEET.ALGO

$x$

$x$

$7$

Feedback

T Check Mity ifork

When a customer account is identified as uncollectible, it is written off against the allowance account.

$\backslash$table$[[9.$ EX$\mathrm{.}08\mathrm{.}08,],[10.$ EX$\mathrm{.}08\mathrm{.}09,0],[11.$ EX$\mathrm{.}08\mathrm{.}10.$BLANKSHEET.AL$..,*$