The following information was obtained from the Brooks Company records: On April

Question

The following information was obtained from the Brooks Company records: On April 9, Brooks Company sold inventory on account to Bennett Company, $15,800. On August 28, Brooks Company determines that Bennett Company's account is uncollectible and writes it off. On October 9, Bennett Company remits a partial payment of $830. Required: Journalize Brooks Company's transactions on August 28 and October 9. Make sure to enter the day for each separa transaction. Note: Brooks Company uses the allowance method to account for bad debts. Date Accoum: Title Debit Credit

Explanation / Answer

Journal entry :

Date accounts & explanation debit credit Aug 28 Allowance for doubtful accounts 15800      Account receivable 15800 (To record amount write off) Oct 9 Account receivable 630       Allowance for doubtful accounts 630 (To record account reinstate) Cash 630     Account receivable 630 (To record amount received)

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