Olympic supply company uses the direct-off method of

Assignment Help Accounting Basics

Reference no: EM13601214

Olympic Supply company uses the direct-off method of accounting for uncollectible account.

Instructions:Record the following transactions in the general journal.

1. On April 10, sold merchandise on account to Sonya Dickson, $600 plus sales tax, Sales slip 928.

2. On November 30, wrote off Sonya Dickson's account as uncollectible, $630, Memorandum 78.3. On December 30, received $630 from Sonya Dickson for full payment of her account. This account was written off on November 30, Memorandum 89 and Receipt 277.

Reference no: EM13601214

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