On January 16,Whole Circle,Inc.sold $5,000 merchandise to Smith,on account.Whole Circle could not collect cash from Smith and wrote off the account.Prepare a journal entry to record the write-off,assuming Whole Circle uses the allowance method.

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The Answer of On January 16,Whole Circle,Inc.sold $5,000 merchandise to Smith,on account.Whole Circle could not collect cash from Smith and wrote off the account.Prepare a journal entry to record the write-off,assuming Whole Circle uses the allowance method.