Direct write-off methodJournalize the following transactions, using the direct write-off methodof accounting for uncollectible receivables:Mar. 17 Received $275 from Shawn McNeely and wrote off the remainder owed of $1,000 as uncollectible.July 29 Reinstated the account of Shawn McNeely and received $1,000cash in full payment.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Direct write-off method
Journalize the following transactions, using the direct write-off method
of accounting for uncollectible receivables:
Mar. 17 Received $275 from Shawn McNeely and wrote off the remainder owed of $1,000 as uncollectible.
July 29 Reinstated the account of Shawn McNeely and received $1,000
cash in full payment.

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