How to do this, please explain. Thank you. Dexter Company applies the direct write-off method in accounting for uncollectible accounts. Preparejournal 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 customerLester Company.29 Lester Company unexpectedly pays its account in full to Dexter Company. Dexter records itsrecovery of this bad debt.

Journal entry: Journal entry is the book of original entry where first transactions are recorded in…

er Company applies the direct write-off methc al entries to record the following selected trans h 11 Dexter determines that it cannot collect Lester Company. Lester Company unexpectedly pays its 29 of this hod dobt loht

er Company applies the direct write-off methc al entries to record the following selected trans h 11 Dexter determines that it cannot collect Lester Company. Lester Company unexpectedly pays its 29 of this hod dobt loht

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Balance of Payments

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Question

How to do this, please explain. Thank you.

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.

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