Business, 02.01.2020 23:31 dborges4070

On june 1, 2018, top performance cell phones sold $ 26 comma 000 of merchandise to alright trucking company on account. alright fell on hard times and on july 15 paid only $ 7 comma 500 of the account receivable. after repeated attempts to collect, top performance finally wrote off its accounts receivable from alright on september 5. six months later, march 5, 2019, top performance received alright's check for $ 18 comma 500 with a note apologizing for the late payment.

requirements

1. journalize the transactions for high performance cell phoneshigh performance cell phones using the direct write-off method. ignore cost of goods sold.

2. what are some limitations that high performance will encounter when using the direct write-off method?

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On june 1, 2018, top performance cell phones sold $ 26 comma 000 of merchandise to alright trucking...

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