Collection of Amounts Previously Written Off
Customer Rob Hufnagel owes Kellman Corp. $1,250. Kellman determines that the total amount is uncollectible and writes off all of Hufnagel’s debt. Hufnagel later pays $350 to Kellman.
Required:
Make the appropriate journal entries (if any) to record the receipt of $350 by Kellman.
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