Journalize scoops ice cream shop transactions

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Question -

1) During July 2017, Scoops Ice cream Shop recorded the following:

Feb 2 Sales of $800 on account. Ignore cost of merchandise sold.

March 12 Collections from customers on account, $175

Sept 9 Write-offs of uncollectible receivables, $60

Journalize Scoops Ice cream Shop above transactions for July, assuming it uses the Direct Write Off Method.

2) Briefly discuss the difference between the Direct Write Off Method and the Allowance Method as is relates to the timing of the recording of bad debts expense (when is it recorded?)

Reference no: EM132865061

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