Allowance Method Journalize the following transactions, using the allowance method of accounting for uncollectible receivables:...
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Accounting
Allowance Method
Journalize the following transactions, using the allowance method of accounting for uncollectible receivables:
Oct. 2. Received $2,510 from Paula Spitler and wrote off the remainder owed of $4,090 as uncollectible. If an amount box does not require an entry, leave it blank.
Oct. 2
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Dec. 20. Reinstated the account of Paula Spitler and received $4,090 cash in full payment. If an amount box does not require an entry, leave it blank.
Reinstate
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Collection
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