On January 1, Wolfie's Supply Sold $222 Worth of Goods

question 11

Essay

On January 1, Wolfie's Supply sold $222 worth of goods to customer Abe Smith on account. For several months, Wolfie's tried unsuccessfully to collect from the customer, and finally decided to write off the account. (Wolfie's uses the allowance method.)
Later in the year, however, the customer came in to Wolfie's, apologized for the late payment and handed over a check for $222. To properly record the recovery of an account previously written off, two journal entries are needed-one to restore the receivable previously written off, and one to record the cash receipt. Please show the second of these two entries.

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Definitions:

Weaned

The process of gradually introducing an infant or young animal to food other than its mother's milk, leading to a decreased dependence on maternal feeding.

Oral Stage

The first stage in Freud's psychosexual stages, occurring in the first 18 months of life, in which the mouth is the erogenous zone and weaning is the primary conflict.

Primitive Side

Primitive Side refers to the basic or instinctual part of human nature, often associated with innate drives, behaviors, or reactions that derive from our ancestral or evolutionary past.

Personality

Personality is the combination of thoughts, emotion patterns, and behaviors uniquely exhibited by an individual, distinguishing one person from another.