Greig Company uses the allowance method for estimating uncollectible accounts. Prepare journal entries to record the following transactions:
January 5 Sold merchandise to Jane Harder for €1,000, terms n/15.
April 15 Received €200 from Jane Harder on account.
August 21 Wrote off as uncollectible the balance of the Jane Harder account when she declared bankruptcy.
October 5 Unexpectedly received a check for €300 from Jane Harder.

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The Answer of Greig Company uses the allowance method for estimating uncollectible accounts. Prepare journal entries to record the following transactions:
January 5 Sold merchandise to Jane Harder for €1,000, terms n/15.
April 15 Received €200 from Jane Harder on account.
August 21 Wrote off as uncollectible the balance of the Jane Harder account when she declared bankruptcy.
October 5 Unexpectedly received a check for €300 from Jane Harder.

Greig Company Uses the Allowance Method for Estimating Uncollectible Accounts