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Comparing direct write-off and allowance method entries 280P1 P2 Flynn Co. determines that it cannot...

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Accounting

Comparing direct write-off and allowance method entries 280P1 P2 Flynn Co. determines that it cannot collect $7,000 of its accounts receivable from its customer, MDC. Record the journal entry required of Flynn under (a) the direct write-off method and (b) the allowance method

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