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During March, April, May and June of 2012 Taint Incorporated received $62,150 from customers whose...

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Accounting

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During March, April, May and June of 2012 Taint Incorporated received $62,150 from customers whose accounts were previously written-off. Prepare the necessary journal entry(s) to account for the transaction.

Taint Incorporated December 31, 2011 Balance Sheet Assets Current Assets Accounts Receivable Less: Allow for Uncollecytible accounts Net Receivable Balance $7,000,000 (5555,000) $6,445,000

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