Business, 07.04.2020 21:42 acina

On January 1, Wei company begins the accounting period with a $48,000 credit balance in Allowance for Doubtful Accounts. a. On February 1, the company determined that $10,400 in customer accounts was uncollectible; specifically, $2,700 for Oakley Co. and $7,700 for Brookes Co. Prepare the journal entry to write off those two accounts. b. On June 5, the company unexpectedly received a $2,700 payment on a customer account, Oakley Company, that had previously been written off in part a. Prepare the entries to reinstate the account and record the cash received.

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On January 1, Wei company begins the accounting period with a $48,000 credit balance in Allowance fo...

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