Apr. 2. Sold merchandise on account to Peking Palace Co., $36,000. The cost of the...
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Accounting
| Apr. | 2. | Sold merchandise on account to Peking Palace Co., $36,000. The cost of the merchandise sold was $23,540. |
| June | 9. | Received $10,380 from Peking Palace Co. and wrote off the remainder owed on the sale of April 2 as uncollectible. |
| Oct. | 31. | Reinstated the account of Peking Palace Co. that had been written off on June 9 and received $25,620 cash in full payment. |
Journalize the above transactions in the accounts of Dining Interiors Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles.
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