Business, 13.08.2021 01:00 stupidtrash

Discount Mart utilizes the allowance method of accounting for uncollectible receivables. On December 12, the company receives a $560 check from Chad Thomas in settlement of Thomas's $1,380 outstanding accounts receivable. Due to Thomas's failing health, he is closing his company and is expecting to make no further payments to Discount Mart. Journalize this transaction.

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Discount Mart utilizes the allowance method of accounting for uncollectible receivables. On December...