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Lesson 17 2
- 1. LESSON 17-2
Writing Off and Collecting
Uncollectible Accounts
Receivable
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
- 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
2
2
1. Debit
2. Credit and customer’s name
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 17-2
- 3. 3
POSTING AN ENTRY TO WRITE OFF AN
UNCOLLECTIBLE ACCOUNT RECEIVABLE
2
3
1
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
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 17-2
- 4. REOPENING AN ACCOUNT
PREVIOUSLY WRITTEN OFF
4
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.
1
1
2
1. Enter a debit to Accounts Receivable. Place a diagonal line
in the Post. Ref. column.
2. Enter a credit to Allowance for Uncollectible Accounts.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 17-2
- 5. 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.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 17-2
- 6. 6
POSTING ENTRIES FOR COLLECTING A
WRITTEN-OFF ACCOUNT RECEIVABLE
1
1
2
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
4
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 17-2
- 7. 7
TERM REVIEW
page 524
writing off an account
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 17-2