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Valentin [98]
2 years ago
10

Journalize the following transactions, using the allowance method of accounting for uncollectible receivables

Business
1 answer:
Katyanochek1 [597]2 years ago
3 0

Answer:

                                 Journal entry

Date Account & Explanation                     Debit      Credit

Mar 17.    Cash                                                 $2,700

               Allowance for doubtful accounts   $6370  

                        Account receivable                                $9,070

Jul 29     Account receivable                         $6,370

                        Allowance for doubtful accounts           $6,370

              (To record amount reinstated)

               Cash                                                 $6,370

                         Account receivable                                 $6,370

              (To record amount received)

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