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Illustrate effects on the accounts and financial statements

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"Illustrate the effects on the accounts and financial statements of the following transactions in the accounts of A1 Kitchen Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables:

Jan. 31. Received $8,000 on an account and wrote off the remainder owed of $32,000 as uncollectible.

Nov. 2. Reinstated the account that had been written off on January 31 and received $32,000 cash in full payment"

Reference no: EM132083457

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