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QS 7-5 (Algo) Allowance method for bad debts LO P2 Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $2,500 account of a customer, C. Green. On March 9, it receives a $2,000 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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QS 7-5 (Algo) Allowance method for bad debts LO P2 Gomez Corp. uses the allowance method to account...
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