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How do journalize a large account previously written off

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Problem 1: How do you journalize a large account previously written off in a prior year that was unexpectedly collected in the current year.

As a result, the current credit balance of Allowance for Uncollectible Accounts is $17460.00. The December 31 estimate of uncollectible accounts is only $15450.00. Crediting Uncollectible Accounts Expense would distort that expense for the current year.

Problem 2: What is an appropriate account to credit?

Reference no: EM132667794

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