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Prepare journal entries to record the transactions

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Question - Handel Company uses the allowance method for estimating uncollectible accounts. Prepare journal entries to record the following transactions:

January 5 Sold merchandise to Miles Winston for $2,000, terms n/15.

April 15 Received $600 from Miles Winston on account.

August 21 Wrote off as uncollectible the balance of the Miles Winston account when she declared bankruptcy.

October 5 Unexpectedly received a check for $300 from Miles Winston. It is not felt any more will be received from Winston.

Reference no: EM132543287

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