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Prior to recording the following, Elite Electronics, Inc., had a credit balance of $1,500 in its Allowance for Doubtful Accounts Required: Prepare journal entries for
Prior to recording the following, Elite Electronics, Inc., had a credit balance of $1,500 in its Allowance for Doubtful Accounts Required: Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Requ the first account field.) a On August 31, a customer balance for $250 from a prior year was determined to be uncollectible and was written off b. On December 15, the customer balance for $250 written off on August 31 was collected in full. View transaction list Journal entry worksheet 2 Record the write-off of a certain customer account from a prior year which is not collectible totaling $250. 1 2 3 Record the reversal of the write-off of the $250 customer account. Note: Enter debits before credits Transaction General Journal Debit Credit 2 3 Record the receipt of cash of $250 from the customer. Note: Enter debits before credits Transaction General Journal Debit Credit b(2)
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