Madonna’s Music Store uses the direct write-off method in accounting for uncollectible accounts. 20-1 May 5 Wrote off $2,360 owed by Neal Dammond, who has no assets. July 18 Wrote off $1,255 owed by Maxine Mouse, who has made no payments in more than a year. Sept. 20 Reinstated the account of Neal Dammond, which had been written off on May 5, and received $2,360 cash in full settlement. 20-2 May 11 Reinstated the account of Maxine Mouse, which had been written off in the previous year, and received $1,255 cash in full settlement. Required: Record these transactions in general journal form.

Madonna’s Music Store uses the direct write-off method in accounting for uncollectible accounts. 20-1 May 5 Wrote off $2,360 owed by Neal Dammond, who has no assets. July 18 Wrote off $1,255 owed by...

Madonna’s Music Store uses the direct write-off method in accounting for uncollectible accounts.

20-1
May 5	Wrote off $2,360 owed by Neal Dammond, who has no assets.
July 18	Wrote off $1,255 owed by Maxine Mouse, who has made no payments in more than a year.
Sept. 20	Reinstated the account of Neal Dammond, which had been written off on May 5, and received $2,360 cash in full settlement.
20-2
May 11	Reinstated the account of Maxine Mouse, which had been written off in the previous year, and received $1,255 cash in full settlement.

Required:

Record these transactions in general journal form.

Jun 10, 2022