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Direct Write-Off Method
Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables:
Oct. 2: Received $3,150 from William Pruitt and wrote off the remainder owed of $2,680 as uncollectible. If an amount box does not require an entry, leave it blank.
Oct. 2 | |||
Dec. 20: Reinstated the account of William Pruitt and received $2,680 cash in full payment.
Dec. 20-Reinstate | |||
Dec. 20-Collection |
Sep 18 2020 View more View Less
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