Question 2: Journalize the following transactions, using the allowance method of accounting for uncollectible receivables:...
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Accounting
Question 2:
Journalize the following transactions, using the allowance method of accounting for uncollectible receivables:
July 9. Received $1,500 from Silas Thompson and wrote off the remainder owed of $3,600 as uncollectible.
Oct. 11 Reinstated the account of Silas Thompson and received $3,600 cash in full payment.
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