Entries for Uncollectible Accounts, using Direct Write-Ort Method Journalize the following transactions in the accounts...
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Entries for Uncollectible Accounts, using Direct Write-Ort Method Journalize the following transactions in the accounts of Caivyon River Medical C0, a medical equipment company that uses the direct write-off method of accounting for uncollectble receivables: 3an. 19 Sold merchandise on account to Dr. Kyle Norby, $36,100, The cost of goods sold was $19,500. June 2 Recelved $10,100 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 recelved $26,000 cash in full payment. If an amount box does not require an entry, leave it blank. Jan, 19-sale Accounts Receivable-Dr. Kyle Norby Sales Jan. 19-cost Cost of Goods Sold Inventory June 2 Cash Bad Debt Expense Accounts Receivable-Dr. Kyle Norby Oct. 23-reinstate Accounts Receivable-Dr. Kyle Norby Bad Debt Expense Oct. 23-collection Cash Accounts Receivable-Dr. Kyle Norby
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