Dexter Company applies the direct write-off method in accounting for uncollectible accounts. Prepare journal entries to record the following selected transactions of Dexter. March 11 Dexter determines...

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Extracted text: Dexter Company applies the direct write-off method in accounting for uncollectible accounts. Prepare journal entries to record the following selected transactions of Dexter. March 11 Dexter determines that it cannot collect $45,000 of its accounts receivable from its customer Lester Company. 29 Lester Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt.