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Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off...

Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $900 account of a customer, C. Green. On March 9, it receives a $400 payment from Green.

1. Prepare the journal entry for January 31
2. Prepare the journal entries for March 9; assume no additional money is expected from Green

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Answer #1

1. Journal entry for January 31.

2. Journal entry for March 9, assuming no additional money is expected from Green

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