Direct WRITE-OFF METHOD Williams & Hendricks Distributors uses write- off method in accounting for uncollectible accounts 20 - 1 Feb. 18 Mar. 22 June 3 Sold merchandise on account to Merry Merchants, $17,500. Sold merchandise on account to Utter Unicorns, $14,300. Received $10,000 from Merry Merchants and wrote off the remainder owed on the sale of February 18 as uncollectible. Received $8,000 from Utter Unicorns and wrote off the remainder owed on the sale of March 22 as uncollectible. Reinstated the account of Merry Merchants, which had been written off on June 3, and recelved 7,500 cash in full settlement. Sept. 9 Nov. 13 20-2 Jan. 17 Reinstated the account of Utter Unicorns, which had been written off on September 9 of the previous year , and received $ 6,300 cash in full settlement REQUIRED Record the above transactions in general Journal form,
Direct WRITE-OFF METHOD Williams & Hendricks Distributors uses write- off method in accounting for uncollectible accounts 20 - 1 Feb. 18 Mar. 22 June 3 Sold merchandise on account to Merry Merchants, $17,500. Sold merchandise on account to Utter Unicorns, $14,300. Received $10,000 from Merry Merchants and wrote off the remainder owed on the sale of February 18 as uncollectible. Received $8,000 from Utter Unicorns and wrote off the remainder owed on the sale of March 22 as uncollectible. Reinstated the account of Merry Merchants, which had been written off on June 3, and recelved 7,500 cash in full settlement. Sept. 9 Nov. 13 20-2 Jan. 17 Reinstated the account of Utter Unicorns, which had been written off on September 9 of the previous year , and received $ 6,300 cash in full settlement REQUIRED Record the above transactions in general Journal form,
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