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Journalize the Following Transactions Using the Allowance Method of Accounting

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Journalize the following transactions using the allowance method of accounting for uncollectible receivables.?Apr. 1 Sold merchandise on account to Jim Dobbs, $7,200. The cost of the merchandise 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.


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