(Practice Problem)

PROBLEM FOUR ALLOWANCE METHOD 5 journal entries 10 points PROBLEM FOUR - ALLOWANCE METHOD journalentries GENERAL JOURNAL ACCOUNT TITLE DATE Debt Credit Heyward Company uses the allowance method for estimating uncollectible accounts, Prepare the journal entries to record the following transactions 1-Feb Sold merchandise to retail customer for 5500 rms 15 Feb Received payment from this customer for $300 5200 1-Mw Wrote off as uncollectible the balance of this customer's account customer had declared bankruptcy) 20.3 Unexpectedly received a check from this customer for $100