Mar. 17 Received $275 from Shawn McNeely and wrote off the remainder owed of $1,000 as uncollectible. July 29 Reinstated the account of Shawn McNeely and received $1,000 cash in full payment. Journalize the above transactions, using the allowance method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles.

Mar. 17 Received $275 from Shawn McNeely and wrote off the remainder owed of $1,000 as uncollectible. July 29 Reinstated the account of Shawn McNeely and received $1,000 cash in full payment. Journalize the above transactions, using the allowance method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles.

Quickbooks Online Accounting

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ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 1.7C

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Mar. 17 Received $810 from Shawn McNeely and wrote off the remainder owed of $4,820 as uncollectible. July 29 Reinstated the account of Shawn McNeely and received $4,820 cash in full payment. Journalize the above transactions, using the direct write-off method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles
Mar. 17 Received $810 from Shawn McNeely and wrote off the remainder owed of $4,820 as uncollectible. July 29 Reinstated the account of Shawn McNeely and received $4,820 cash in full payment. Journalize the above transactions, using the allowance method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles. Chart of Accounts CHART OF ACCOUNTS General Ledger ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable-Shawn McNeely 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation-Store Equipment 193 Office Equipment 194 Accumulated Depreciation-Office Equipment LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215…
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Journalize the following transactions, using the allowance method of accounting for uncollectible receivables:Oct. 2. Received $600 from Rachel Elpel and wrote off the remainder owed of $1,350 as uncollectible.Dec. 20. Reinstated the account of Rachel Elpel and received $1,350 cash in full payment.
Mar. 17 Received $275 from Shawn McNeely and wrote off the remainder owed of $1,000 as uncollectible. July 29 Reinstated the account of Shawn McNeely and received $1,000 cash in full payment. Journalize the above transactions, using the allowance method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account title Chart of Accounts: CHART OF ACCOUNTS General Ledger ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable-Shawn McNeely 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation-Store Equipment 193 Office Equipment 194 Accumulated Depreciation-Office Equipment LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable…
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Journalize the following transactions, using the allowance method of accounting for uncollectible receivables. Mar. 17: Received $3,220 from Paula Spitler and wrote off the remainder owed of $1,930 as uncollectible. If an amount box does not require an entry, leave it blank. Mar. 17 Cash fill in the blank 035d8afee01bfea_2 fill in the blank 035d8afee01bfea_3 Allowance for Doubtful Accounts fill in the blank 035d8afee01bfea_5 fill in the blank 035d8afee01bfea_6 Accounts Receivable-Paula Spitler fill in the blank 035d8afee01bfea_8 fill in the blank 035d8afee01bfea_9 July 29: Reinstated the account of Paula Spitler and received $1,930 cash in full payment. July 29 fill in the blank e6591afdffdafad_2 fill in the blank e6591afdffdafad_3 fill in the blank e6591afdffdafad_5 fill in the blank e6591afdffdafad_6 July 29 fill in the blank e6591afdffdafad_8 fill in the blank e6591afdffdafad_9 fill in the blank e6591afdffdafad_11 fill in the…
Journalize the following transactions, using the allowance method of accounting for uncollectible receivables: Oct. 2. Received $3,240 from Keith MacPhearson and wrote off the remainder owed of $7,230 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 Dec. 20. Reinstated the account of Keith MacPhearson and received $7,230 cash in full payment. If an amount box does not require an entry, leave it blank. Reinstate Collection
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1) Prepare the journal entry to record an uncollectible account receivable of $10,000 using the direct write off method.

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Mar.	17	Received $275 from Shawn McNeely and wrote off the remainder owed of $1,000 as uncollectible.
July	29	Reinstated the account of Shawn McNeely and received $1,000 cash in full payment.