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Uses the allowance method to account for uncollectibles

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Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off a $ 800 account of a customer, C. Green. On March 9, it receives a $ 300 payment from Green. 

1. Prepare the journal entry or entries for January 31. 

2. Prepare the journal entry or entries for March 9; assume no additional money is expected from Green.

Reference no: EM13903070

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