Theta Company Determines That a $6,300 Account Receivable from CorpCo

question 184

Essay

Theta Company determines that a $6,300 account receivable from CorpCo is uncollectible and writes off the account using the direct write-off method on June 16. On August 21, CorpCo pays the $6,300 to Theta Company.
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Journalize the entry for the reinstatement of the account receivable and receipt of cash on August 21. You may omit posting references. $$\begin{array} { | c | c | c | c | c | } \hline && { \text { Journal } } \\\hline \text { Date } & \text { Description } & \text { Post Ref. } & \text { Debit } & \text { Credit } \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline\end{array}$$

Understand and apply the concept of budget constraints in consumer choice analysis.

Examine the characteristics of normal and inferior goods in response to income and price changes.

Interpret and analyze consumption bundles within and beyond budget constraints.

Understand the importance of a nomothetic understanding of human behavior in clinical psychology.

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Definitions:

Psychoanalytic Psychology

A branch of psychology that focuses on understanding human behavior through the exploration of the unconscious mind, as developed by Sigmund Freud.

American Philosopher

A scholar originating from the United States who engages in the study of fundamental questions about existence, knowledge, values, reason, mind, and language.

Austrian Physician

Likely refers to Sigmund Freud, the founding father of psychoanalysis, though there are many other notable Austrian physicians.

Wilhelm Wundt

Wilhelm Wundt was a German physiologist, philosopher, and professor, known as one of the founders of modern psychology, who established the first psychology laboratory at the University of Leipzig in 1879.