No Received check No. 34982 for $1,000 from Stevenson College. The check was received along with notification from Stevenson's attorneys, Benson, Rosenbrook, and Martinson, P.C. stating that Stevenson was able to pay $1,000 of the $2,900 balance due from charge invoice No. 719 prior to Stevenson's final bankruptcy filing. Recall that the full $2,900 balance due from the $63,712 invoice was written off as uncollectible on December 23, 2022. P. 21 In addition to recording this customer cash receipt, you will need to record a general journal entry for the reversal of part of the previously written off balance. Make sure to update Stevenson College's subsidiary record for both entries.

No Received check No. 34982 for $1,000 from Stevenson College. The check was received along with notification from Stevenson's attorneys, Benson, Rosenbrook, and Martinson, P.C. stating that Stevenson was able to pay $1,000 of the $2,900 balance due from charge invoice No. 719 prior to Stevenson's final bankruptcy filing. Recall that the full $2,900 balance due from the $63,712 invoice was written off as uncollectible on December 23, 2022. P. 21 In addition to recording this customer cash receipt, you will need to record a general journal entry for the reversal of part of the previously written off balance. Make sure to update Stevenson College's subsidiary record for both entries.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable

Section: Chapter Questions

Problem 31E

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