I got something wrong help Mar. 17 Received $275 from Shawn McNeely and wrote of

Question

I got something wrong help Mar. 17 Received $275 from Shawn McNeely and wrote off the remainder owed of $1,000 as uncollectible. July 29 Reinstated the account of Shawn McNeely and received $1,000 cash in full payment. CHART OF ACCOUNTSGeneral Ledger ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable-Shawn McNeely 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation-Store Equipment 193 Office Equipment 194 Accumulated Depreciation-Office Equipment LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Store Equipment 523 Delivery Expense 524 Repairs Expense 529 Selling Expenses 530 Office Salaries Expense 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Office Supplies Expense 535 Store Supplies Expense 536 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense 539 Miscellaneous Expense 710 Interest Expense
Calculator Show Me How ook llowance method ournal Instructions Chart of Accounts ournal DATE DESCRIPTION POST Mar. 17 Cash Store Supplies Expense Jo Accounts Receivable-Shawn McNeely Jul 29 Accounts Receivable-Shawn McNeely Office Salaries Expense Jul. 29 Cash Accounts Receivable-Shawn McNeely Chedk My Work

Explanation / Answer

Journal entry :

Date accounts & explanation debit credit mar 17 Cash a/c 275 Allowance for doubtful accounts 1000      Accounts Receivable-Shawn McNeely 1275 July 29 Accounts Receivable-Shawn McNeely 1000       Allowance for doubtful accounts a/c 1000 July 29 Cash a/c 1000      Accounts Receivable-Shawn McNeely 1000

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