(Answered) 1 journalize the following transactions using the direct

Accounting

1. Journalize the following transactions using the direct write-off method of accounting for uncollectible receivables:

Feb. 25. Received $500 from Jason Wilcox and wrote off the remainder owed of $4,000 as uncollectible.

May 9. Reinstated the account of Jason Wilcox and received $4,000 cash in full payment.

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