v21 Onlinex om/ilm/takeAssignment/takeAssignmentMain.do?invokersassignments&take

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v21 Onlinex om/ilm/takeAssignment/takeAssignmentMain.do?invokersassignments&takeAssignmentsession; ocator-assignment-takekinprogress Calculator Instuction Chart of Accounts General Journal Using the direct write-off method of accounäng for uncollectble receivables pril1 Sold merchandise on account to Jim Dobbs, $8,800 The cost of tie merchandise is $3,520 June 10 Received payment for one-third of the recelvable trom m Dobbs and wrole off the remainder Oct 11 Reinstated the account of Jim Dobbs for and received cash in full payment Required Joumalize me above ransactions Reler to the Chart of Accounts for exact wording of account toes. Round your answers to nearest dotar

Explanation / Answer

Journal entries Date Account Titles Debit Credit Apr-01 Accounts Receivables (Jim Dobbs) $8,800 Sales $8,800 Apr-01 Cost of goods sold $3,520 Merchandise Inventory $3,520 Jun-10 Cash $2,933 Accounts Receivables (Jim Dobbs) $2,933 Jun-10 Bad debt Expense $5,867 Accounts Receivables (Jim Dobbs) $5,867 Oct-11 Accounts Receivables (Jim Dobbs) $5,867 Bad debt Expense $5,867 Oct-11 Cash $5,867 Accounts Receivables (Jim Dobbs) $5,867

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