journalize the following transactions in the accounts of Webster Co. a hospital

Question

journalize the following transactions in the accounts of Webster Co. a hospital supply company that uses the direct write-off method of accounting for uncollectable receivable. March 11 Sold merchandise on account to E Dodge, $3,200. The cost of the merchandise sold was $1,250 May 1. Received $1,800 from E Dodge and wrote off the remainder owed on the sale of March 11 as uncollectable. Nov. 15. Reinstate the account of E Dodge that had been written off on May 1 and received $1,400 cash in full payment.

Explanation / Answer

Hi, Please find the entries as follows: Accounts Receivables Dr. 3200 Merchandise Inventory Cr. 3200 Cash Dr. 1800 Allowance for Doubtful Debts 1400 Accounts Receivables Cr. 3200 Accounts Receivables 1400 Recovery on Bad debts previously written off Cr. 1400 Cash Dr. 1400 Accounts Receivable Cr. 1400 Thanks.

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