A. Journalize the following transactions usingthe direct write-off method of acc

Question

A.    Journalize the following transactions usingthe direct write-off method of accounting for uncollectiblereceivables.

Feb 12   Received $750 from Manning Wingard and wroteoff the remainder owed of $2,000 as uncollectible

June 30 Reinstated the account of Manning Wingard and received$2,000 in full payment.

B.    Jouranlize th e following transaction usingthe allowance method of accounting for uncollectiblereceivables.

Feb. 12 Received $750 from Manning Wingard and wrote offthe remainder owed of $2,000 as uncollectible.

June 30 Reinstated the account of Manning Wingard andreceive $2,000 cash in full payment

Explanation / Answer

Please rate the answer ! A.   Direct write-off method Feb 12          Cash                         750           Bad debtsexpense    2,000                 Accountsreceivable                 2,750 June 30         Cash                 2,000            Uncollectible amounts recovered     2,000 B.Allowance method Feb 12     Cash                              750 Allowance for doubtful accounts 2,000    Accounts receivable       2,750 June 30    1.    Accounts receivable       2,000 Allowancefor doubtful accounts 2,000 2.       Cash    2,000 Accounts receivable   2,000

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