Question

help me please.

31 Journalize the following transactions using the allowance method of account Apr Sold merchandise on account to Jim Dobbs, 57.200. The cost of the mer June to Received payment for one-third of the receivable from Jim Dobbs and wrote using the allowance method of accounting for uncollectible receivables. The cost of the merchandise is $5,400. olvable from Jim Dobbs and wrote of the remainder Oct. 11 Reinstated the account of Jim Dobbs and received cash in full payment

Answer 1

Date	Account Tittle	Debit	Credit
April 1	Account Receivable-Jim D	$7,200
	Sales		$7,200
	To record sale of merchandising on account
April 1	Cost of goods sold	5,400
	Inventory		5,400
	To record cost of goods sold
June 10	Cash	2,400
	Allowance for doubtful accounts (Bad debts)	4,800
	Account Receivable- Jim D		$7,200
	To record 1/3 of 7,200 cash receipt, 2/3 wrote off
Oct. 11	Account Receivable- Jim D	$4,800
	Allowance for doubtful accounts		$4,800
	To reinstating account receivable of Jim D
Oct. 11	Cash	$4,800
	Account Receivable		$4,800
	To record cash collection from AR in full