Journalize the following transactions using the direct write-off method of accounting for uncollectible receivables.

April 1 Sold merchandise on account to Jim Dobbs, $7,200. The cost of goods sold is $5,400.

June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder.

Oct. 11 Reinstated the account of Jim Dobbs and received cash in full payment.

Question

Journalize the following transactions using the direct write-off method of accounting for uncollectible receivables.
​
April 1 Sold merchandise on account to Jim Dobbs, $7,200. The cost of goods sold is $5,400.
​
June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder.
​
Oct. 11 Reinstated the account of Jim Dobbs and received cash in full payment.

Quizplus · Accepted Answer

The Answer of Journalize the following transactions using the direct write-off method of accounting for uncollectible receivables.
​
April 1 Sold merchandise on account to Jim Dobbs, $7,200. The cost of goods sold is $5,400.
​
June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder.
​
Oct. 11 Reinstated the account of Jim Dobbs and received cash in full payment.

Journalize the Following Transactions Using the Direct Write-Off Method of Accounting