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Record write off of Leer Co account

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Question - Dexter Company uses the direct write-off method. March 11 Dexter determines that it cannot collect $8,600 of its accounts receivable from Leer Co. 29 Leer Co. unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt.

1. Record write off of Leer Co. account.

2. Record the reinstatement of an account previously written off

3. Record the cash received on account.

Prepare journal entries to record the above transactions.

Reference no: EM132922365

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