EX 9-4 Entries for uncollectible receivables, using allowance method
Journalize the following transactions in the accounts of Metromark Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables:
| Feb. 11. | Sold merchandise on account to Dakota Co., $29,000. The cost of the merchandise sold was $17,400. |
| Apr. 15. | Received $7,500 from Dakota Co. and wrote off the remainder owed on the sale of February 11 as uncollectible. |
| Sept. 3. | Reinstated the account of Dakota Co. that had been written off on April 15 and received $21,500 cash in full payment. |
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