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Dexter company applies the direct write off method

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Dexter Company applies the direct write off method in accounting for uncollectible accounts. Prepare journal entries to record the following selected transactions of Dexter. 

March 11 Dexter determines that it cannot collect $ 45,000 of its accounts receivable from its customer Lester Company. 

29 Lester Company unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt.

Reference no: EM13902997

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