Journalize the following transactions using the allowance me
Journalize the following transactions, using the allowance method of accounting for uncollectible receivables. Mar. 17: Received $2,490 from Keith MacPhearson and wrote off the remainder owed of $2,640 as uncollectible. If an amount box does not require an entry, leave it blank.
Solution
17-Mar Cash 2490 Allowance for Doubtful accounts 2640 Accounts Receivable 5130