QUESTION 2 On January 1 , Wei Company begins the accounting...
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Accounting
QUESTION 2
On January 1 , Wei Company begins the accounting period with a $46,000 credit balance in Allowance for Doubtful Accounts. a. On February 1 , the company determined that $10,000 in customer accounts was uncollectible; specifically, $2,500 for Oakley Company and $7,500 for Brookes Company Prepare the journal entry to write off those two accounts. b. On June 5, the company unexpectedly received a $2,500 payment on a customer account, Oakley Company, that had previously been written off in part a. Prepare the entries to reinstate the account and record the cash received. Journal entry worksheet On February 1 , the company determined that $10,000 in customer accounts was uncollectible; specifically, $2,500 for Oakley Company and $7,500 for Brookes Company. Prepare the journal entry to write off those two accounts. Note: Enter debits before credits
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