On January 16,2017,Eliot Brothers Oil,Inc.sold $5,000 of merchandise to Bryce,on account.Eliot Brothers could not collect cash from Bryce and wrote off the account on December 31,2017.On November 4,2018,Bryce unexpectedly paid $5,000.Journalize the transactions on December 31,2017 and November 4,2018.(Eliot Brothers uses the allowance method. )
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Question

On January 16,2017,Eliot Brothers Oil,Inc.sold $5,000 of merchandise to Bryce,on account.Eliot Brothers could not collect cash from Bryce and wrote off the account on December 31,2017.On November 4,2018,Bryce unexpectedly paid $5,000.Journalize the transactions on December 31,2017 and November 4,2018.(Eliot Brothers uses the allowance method. )
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Quizplus · Accepted Answer

The Answer of On January 16,2017,Eliot Brothers Oil,Inc.sold $5,000 of merchandise to Bryce,on account.Eliot Brothers could not collect cash from Bryce and wrote off the account on December 31,2017.On November 4,2018,Bryce unexpectedly paid $5,000.Journalize the transactions on December 31,2017 and November 4,2018.(Eliot Brothers uses the allowance method. )
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