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LESSON 17-2

LESSON 17-2. Writing Off and Collecting Uncollectible Accounts Receivable. 2. 2. JOURNALIZING WRITING OFF AN UNCOLLECTIBLE ACCOUNT RECEIVABLE. page 519. January 4. Wrote off Metro Food Court’s past-due account as uncollectible, $1,621.00. Memorandum No. 3. 1. 1. Debit.

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LESSON 17-2

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  1. LESSON 17-2 Writing Off and Collecting Uncollectible Accounts Receivable

  2. 2 2 JOURNALIZING WRITING OFF AN UNCOLLECTIBLE ACCOUNT RECEIVABLE page 519 January 4. Wrote off Metro Food Court’s past-due account as uncollectible, $1,621.00. Memorandum No. 3. 1 1. Debit 2. Credit and customer’s name LESSON 17-2

  3. 2 3 1 POSTING AN ENTRY TO WRITE OFF AN UNCOLLECTIBLE ACCOUNT RECEIVABLE page 520 1. Post the debit amount to general ledger. 2. Post the credit amount to general ledger. 3. Post the credit amount to customer account. 4. Write Written off in the customer account. 4 LESSON 17-2

  4. 1. Enter a debit to Accounts Receivable. Place a diagonal line in the Post. Ref. column. 1 1 REOPENING AN ACCOUNT PREVIOUSLY WRITTEN OFF page 521 January 30. Received cash in full payment of Metro Food Court’s account, previously written off as uncollectible, $1,621.00. Memorandum No. 5 and Receipt No. 12. 2 2. Enter a credit to Allowance for Uncollectible Accounts. LESSON 17-2

  5. RECORDING CASH RECEIVED FOR AN ACCOUNT PREVIOUSLY WRITTEN OFF page 522 January 30. Received cash in full payment of Metro Food Court’s account, previously written off as uncollectible, $1,621.00. Memorandum No. 5 and Receipt No. 12. LESSON 17-2

  6. 1 1 2 4 POSTING ENTRIES FOR COLLECTING A WRITTEN-OFF ACCOUNT RECEIVABLE page 523 1. Post the general journal entry to the general ledger. 2. Post the debit portion of the general journal entry to the customer account. 3. Write the words Reopen account in the Item column of the customer account. 4. Post the cash receipts journal entry to the customer account. 3 LESSON 17-2

  7. TERM REVIEW page 524 • writing off an account LESSON 17-2

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