an. 19. Sold merchandise on account to Dr. Dale Van Dyken, $16,590. The cost of the merchandise sold was $9,660.July 7. Received $4,010 Dr. Dale Van Dyken and wrote off the remainder owed on the sale of January 19 as uncollectible.Nov. 2. Reinstated the account of Dr. Dale Van Dyken that had been written off on July 7 and received $12,580 cash in full payment.Required:Journalize the above transactions in the accounts of Champion Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles. Journalize the transactions in the accounts of Champion Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles.PAGE 1JOURNALACCOUNTING EQUATIONDATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY1234567891011
an. 19. Sold merchandise on account to Dr. Dale Van Dyken, $16,590. The cost of the merchandise sold was $9,660.
July 7. Received $4,010 Dr. Dale Van Dyken and wrote off the remainder owed on the sale of January 19 as uncollectible.
Nov. 2. Reinstated the account of Dr. Dale Van Dyken that had been written off on July 7 and received $12,580 cash in full payment.
Required:
Journalize the above transactions in the accounts of Champion Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles.
Journalize the transactions in the accounts of Champion Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables. Refer to the Chart of Accounts for exact wording of account titles.
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