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Prepare journal entries to record transactions of diablo

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Reference no: EM13537760

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

June 11 Diablo determines that it cannot collect $9,000 of its accounts receivable from its customer Chaffey Company.

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

Reference no: EM13537760

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