3. New scenario: Assume that on July 1 Jones Co. wrote off $200 due from...
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3. New scenario: Assume that on July 1 Jones Co. wrote off $200 due from Moore Co. due to Moore Co.s inability to pay what they owed. What journal entry would Jones Co. record for this write off assuming Jones uses the allowance method?
4. (Continuation of question 3). Now assume that on Aug. 1 Moore Co. pays the amount previously written off by Jones Co. What two journal entries must Jones Co. record related to this collection of a previously written off Accounts Receivable?
3) New scenario: Assume that on July 1 Jones Co. wrote off $200 due from Moore Co. due to Moore Co.'s inability to pay what they owed. What journal entry would Jones Co. record for this write off assuming Jones uses the allowance method? 7/01/2015 1) (Continuation of question 3). Now assume that on Aug. 1 Moore Co. pays the amount previously written off by Jones Co. What two journal entries must Jones Co. record related to this collection of a previously written off Accounts Receivable? 08/01/2015 08/01/2015
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