Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 8 - Reporting and Analyzing Receivables - Brief Exercises - Page 428: BE8-4

Answer

Journal Entries: (a) Accounts receivable - Novinger Inc. 2,000 dollars Allowance for doubtful accounts 2,000 dollars (b) Cash 2,000 dollars Accounts receivable - Novinger Inc. 2,000 dollars

Work Step by Step

(a) To reverse write-off of Novinger Inc account (b) to record collection from Novinger Inc
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