Entries for Uncollectible Accounts, using Direct Write-Off Method Journalize the following transactions in the accounts of...

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Entries for Uncollectible Accounts, using Direct Write-Off Method Journalize the following transactions in the accounts of Ca

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Answer 1

Answer #1

Following Journal Entries would be done in the books of Canyon River Medical Co.

Date	Journal	Dr	Cr
19-Jan-sale	Dr. Kyle Norby	6400
	To Sale		6400

19-Jan-cost	COGS	3000
	To Merchandise Inventory		3000

2-Jun	Cash	500
	Bad debt expense	5900
	To Kyle Norby		6400

23-Oct-reinstate	Kyle Norby	5900
	To Bad debt expense		5900

23-Oct-collection	Cash	5900
	To Kyle Norby		5900

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