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Business, 08.04.2020 20:56 sirinapadeangel

Discount Mart utilizes the allowance method of accounting for uncollectible receivables. On December 12 the company receives a $530 check from Chad Thomas in settlement of Thomas's $1,300 outstanding accounts receivable. Due to Thomas's failing health he is closing his company and is expecting to make no further payments to Discount Mart. Journalize this declaration.

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Discount Mart utilizes the allowance method of accounting for uncollectible receivables. On December...
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