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Using the allowance method of accounting for uncollectible receivables. Transactions: April 1 Sold merchandise on account to Jim Dobbs, $8,100. The cost of the merchandise
Using the allowance method of accounting for uncollectible receivables. Transactions: April 1 Sold merchandise on account to Jim Dobbs, $8,100. The cost of the merchandise is $3,240. June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. Oct. 11 Reinstated the account of Jim Dobbs and received cash in full payment. Required: Journalize the above transactions. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to nearest dollar amount
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