Dexter Company applies the direct write-off method in accounting for uncollectib

Question

Dexter Company applies the direct write-off method in accounting for uncollectible accounts. March 11 Dexter determines that it cannot collect $8,400 of its accounts receivable from its customer Lester Company. 29 Lester Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt. View transaction list Journal entry worksheet Record write off of Lester Company account. Note: Enter debits before credits. Date General Journal Debit Credit March 11 Record entry Clear entry View general journal

Explanation / Answer

Date General Journal Debit Credit 11-Mar Bad debts expense 8,400 Accounts receivable—Lester Co. 8,400 29-Mar Accounts receivable—Lester Co. 8,400 Bad debts expense 8,400 29-Mar Cash 8,400 Accounts receivable—Lester Co. 8,400

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