Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $800 account of a customer, C. Green. On March 9, it receives a $300 payment from Green. Prepare the journal entry or entries for January 31. Prepare the journal entry or entries for March 9; assume no additional money is expected from Green.
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Home » Business » Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $800 account of a customer, C. Green. On March 9, it receives a $300 payment from Green. Prepare the journal entry or entries for January 31.