Using the direct write-off method of accounting for uncollectible receivables. Transactions: Аpril 1 Sold merchandise on account to Jim Dobbs, $6,900. The cost of the merchandise is $2,760. 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 for 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 атount
Using the direct write-off method of accounting for uncollectible receivables. Transactions: Аpril 1 Sold merchandise on account to Jim Dobbs, $6,900. The cost of the merchandise is $2,760. 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 for 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 атount
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
ChapterD: Notes Payable And Notes Receivable
Section: Chapter Questions
Problem 6P: Prepare entries in general journal form to record the following: June 12Sold merchandise on account...
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Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to nearest dollar amount. |
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