Kitchen Equipment Company uses the allowance method to account for uncollectibles. On October 31, it wrote off a $1,150 account of a customer, Gwen Rowe. On December 9, it received an $750 payment from Rowe. a. Make the appropriate entry for October 31. View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 October 31 Allowance for doubtful accounts 1,150 Accounts receivable-Gwen Rowe 1,150
Kitchen Equipment Company uses the allowance method to account for uncollectibles. On October 31, it wrote off a $1,150 account of a customer, Gwen Rowe. On December 9, it received an $750 payment from Rowe. a. Make the appropriate entry for October 31. View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 October 31 Allowance for doubtful accounts 1,150 Accounts receivable-Gwen Rowe 1,150
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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answer the following
Transcribed Image Text:Kitchen Equipment Company uses the allowance method to account for uncollectibles. On October 31, it wrote off a $1,150 account of
a customer, Gwen Rowe. On December 9, it received an $750 payment from Rowe.
a. Make the appropriate entry for October 31.
View transaction list
View journal entry worksheet
(x)
No
Date
General Journal
Debit
Credit
1
October 31
Allowance for doubtful accounts
1,150
Accounts receivable-Gwen Rowe
1,150
Transcribed Image Text:b. Make the appropriate entry or entries for December 9.
View transaction list
Journal entry worksheet
Record the entry to reinstate the Accounts receivable from Gwen Rowe.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
December 09 Allowance for doubtful accounts
1,150
Accounts receivable-Gwen Rowe
1,150
Record entry
Clear entry
View general journal
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