On may 11 2009 jarnigan co. determined that terry freyes, Ask an Expert

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On December 31, 2008, Jarnigan Co. estimated 2% of it's net sales of $400,000 will become uncollectible. The company recorded this amount as an addition to allowance for doubtful accounts. On May 11, 2009, Jarnigan Co. determined that Terry Freye's account was uncollectible and wrote off $1,100. On June 12, 2009, Frye paid the amount previously written off. Prepare the journal entries on December 31, 2008, May 11, 2009, and June 12, 2009.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9441102

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