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Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275 Exercise 7
Dexter Company applies the direct write-off method in accounting for uncollectible accounts. Prepare journal entries to record the following selected transactions of Dexter.
March 11 Dexter determines that it cannot collect $45,000 of its accounts receivable from its customer Lester Company.
29 Lester Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt.
March 11 Dexter determines that it cannot collect $45,000 of its accounts receivable from its customer Lester Company.
29 Lester Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt.
Explanation
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Direct write off method: Account receiva...
Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
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