Freemen Frank’s Company uses the allowance method for estimating
Freemen Frank’s Company uses the allowance method for estimating uncollectible accounts.
January 5 Sold merchandise to Mark Ham for $1,700, terms n/15.
April 15 Received $500 from Mark Ham on account.
August 21 Wrote off as uncollectible the balance of the Mark Ham account when he declared bankruptcy.
October 5 Unexpectedly received a check for $600 from Mark Ham. It is not felt any more will be received from Mark
Prepare journal entries to record the above transactions.
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