Question
Record the following transactions, using the uncollectible accounts receivable allocation method: October 2nd. Received $2,450 from Paula Spitler and wrote off the remainder due of
Record the following transactions, using the uncollectible accounts receivable allocation method:
October 2nd. Received $2,450 from Paula Spitler and wrote off the remainder due of $3,580 as uncollectible. If a quantity box does not require an entry, leave it blank.
| October 2nd | Money | ||
| Allowance for doubtful accounts | |||
| Accounts Receivable-Paula Spitler |
Comment
When a customer account is identified as uncollectible, it is written off against the allowance account.
December 20th. He reinstated Paula Spitler's account and received $3,580 in cash as payment in full.
| reinstate | |||
| Collection | |||
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College Accounting Chapters 1-15
Authors: James Heintz
21st Edition
1285624815, 9781285624815
