Business, 06.05.2020 03:25 petroale000

Journalize the following transactions in the accounts of Zippy Interiors Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables:

May 24 Sold merchandise on account to Old Town Cafe, $24,450. The cost of goods sold was $14,500.
Sept. 30 Received $9,000 from Old Town Cafe and wrote off the remainder owed on the sale of May 24 as uncollectible.
Dec. 7 Reinstated the account of Old Town Cafe that had been written off on September 30 and received $15,450 cash in full payment.

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Journalize the following transactions in the accounts of Zippy Interiors Company, a restaurant suppl...

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