Business, 13.10.2021 23:10, jeepjose58

On December 31, management had determined that it would not be able to collect the $1,200 owed to it by one of its customers. On January 15 in the next year, a check in the amount of $600 was unexpectedly received from this customer. Management does not expect any future collections from this customer. The company uses the direct write-off method to account for its uncollectible accounts. Required:
Prepare the necessary journal entry on January 15 to record the events.

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On December 31, management had determined that it would not be able to collect the $1,200 owed to it...