Question

ivables: 6. Journalize the following transactions using the direct write-off method of Feb. 20 Received $1,000 from Andrew Warren and wrote off the remainder owed of $4,000 as uncollectible May 10 Reinstated the account of Andrew Warren and received $4,000 cash in full payment ANSWER: Feb. May 10 7. At the end of the current year, Accounts Receivable has a balance of $550 credit balance of $5,500; and sales for the year total $2,500,000. An anal receivables as $25,000 e (a) the amount of the adjusting entry for bad debt ex htful Accounts, and Bad Debt Expense.

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