Journalize the Following Transactions Using the Direct Write-Off Method of Accounting

question 88

Essay

Journalize the following transactions using the direct write-off 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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Definitions:

Circulatory System

The body system responsible for the flow of blood, nutrients, oxygen, carbon dioxide, and other substances to and from cells.

Mammalian

Relating to mammals, a class of warm-blooded vertebrate animals characterized by the presence of mammary glands which females use to feed their young.

Three-chambered Heart

A type of heart structure found in amphibians and reptiles, consisting of two atria and one ventricle.

Circulatory System

The body's network of blood, blood vessels, and heart responsible for pumping blood to all living cells, delivering oxygen and nutrients while removing waste products.