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Allowance Method
Journalize the following transactions, using the allowance method of accounting for uncollectible receivables.
Oct. 2: Received $2,870 from Paula Spitler and wrote off the remainder owed of $2,350 as uncollectible. If an amount box does not require an entry, leave it
blank.
Oct. 2
Dec. 20: Reinstated the account of Paula Spitler and received $2,350 cash in full payment.
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