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s 23" diagonal widescreen HD LED display TrueVision HD Webcam Corporate Financial Acco x 2] Online Cengage × com/ilm/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionLocator; ass alculator General Journal Instruction Using the direct write-off method of accounting for uncollectble receivables April 1 Sold merchandise on account to Jim Dobbs, $8,500. The cost of the merchandise is $3,400 June 10 Received payment for one-third of the receivable from Jim Dobbs Oct 11 Reinstated the account of Jim Dobbs for and received cash in full payment androte offthe remainder Required Joumalize the above transactions Refer to the Chart of Accounts for exact wording of account tles. Round your answers to nearest dollar Chart of Accounts ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 121 Accounts Receivable-Alan Albertson 122 Accounts Receivable-Jim Dobbs 123 Accounts Receivable-John Grovers 124 Accounts Receivable-Jan Lehn 125 Accounts Recelvable-Jacob Marley 126 Accounts Receivable-Mr Potts 127 Accounts Receivable-Chad Thomas 128 Accounts Recervable-Andrew Warren 129 Alowance for Doubtful Accounts 131 Interest Receivable EXPENSES 510 Cost of Merchandise Sold 520 Salaries Expense 521 Advertising Expense 522 Depreciation Expense 523 Delivery Expense 524 Repairs Expense 531 Rent Expense 533 Insurance Expense

Explanation / Answer

Journal entries: Date Accounts title and explanations Debit $ Credit $ 1-Apr Accounts receivable-Jim Dobbs Dr. 8500          Sales account 8500 Cost of Merchandise sold Dr. 3400       Merchandise inventory Account 3400 10-Jun Cash account Dr. 2833 Bad debts expense Account Dr. 5667      Accounts receivable-Jim Dobbs 8500 11-Oct Accounts receivable-Jim Dobbs Dr. 5667     Bad debts expense account 5667 Cash account Dr. 5667      Accounts receivable-Jim dobbs 5667

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