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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 o

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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