Journalize the Following Transactions Using the Allowance Method of Accounting

question 23

Essay

Journalize the following transactions using the allowance method of accounting for uncollectible receivables.
April 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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Definitions:

Civil Rights Movement

A decades-long struggle, particularly during the 1950s and 1960s, aiming to end legalized racial discrimination and segregation in the United States.

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Refers to the process by which judges and courts interpret and apply laws and precedents in legal cases to make a ruling.