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Dexter company applies the direct write-off method in accounting for uncollectible accounts. march 11 dexter determines that it cannot collect $8,600 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. prepare journal entries to record the above selected transactions of dexter.

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Aliwohaish12
Mar 11. Bad debt exp(Dr) 8600
Accounts receivable(cr)8600

Mar 29 accounts receivable (dr)8600
Bad debt exp (cr) 8600

Mar 29 Cash (dr) 8600
Accounts receivable(cr)8600

Hope it helps

Answer:

According to the rules of journal entries

Explanation:

ON MARCH 11

  • Bad debts exp ac        Dr                 8600(Dr)

        Accounts receivables ac      Cr                       8600(Cr)

ON MARCH 29

  • Cash/Bank ac               Dr                8600(Dr)

        Accounts receivables ac      Cr                       8600(Cr)

  • Accounts receivables ac       Dr                8600(Dr)

        Bad debts exp ac              Cr                              8600(Cr)

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