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ccounts using direct write off method Journalize the following transactions in the accounts of Canyon...

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ccounts using direct write off method Journalize the following transactions in the accounts of Canyon River Medical Co a medical equipment company that uses the direct write off method of accounting for uncollectible receivables Jan 19 Sold merchandise on account to Dr Kyle Norby 51 500 The cost of goods sold was 27 800 June 2 Received 14 400 from Dr Kyle Norby and wrote off the remainder owed on the sale of January 19 as uncollectible Oct 23 Reinstated the account of Dr Kyle Norby that had been written off on June 2 and received 37 100 cash in full payment If an amount box does not require an entry leave it blank Jan 19 sale Jan 19 cost June 2 Accounts Receivable Dr Kyle Norby Sales Cost of Goods Sold Inventory Cash Bad Debt Expense Accounts Receivable Dr Kyle Norby Oct 23 reinstate Accounts Receivable Dr Kyle Norby Bad Debt Expense 88

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