Jada Company uses the allowance method to account for uncollectible receivables. On June 2, Jada wrote off a $15,000 account receivable from customer J. Manas. On July 12, Jada unexpectedly received full payment from Manas on the previously written off account. Jada records an adjusting entry for bad debts expense of $830 on July 31. Journalize 1) Jada's write-off of the uncollectible receivable, 2) Jada's collection of the previously written off receivable, and 3) Jada's year-end adjustment for bad debts expense $830 as of July 31
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Home » Business » Jada Company uses the allowance method to account for uncollectible receivables. On June 2, Jada wrote off a $15,000 account receivable from customer J. Manas.