Journalize the following transactions using the allowance me…

Journalize the following transactions using the allowance method of accounting for uncollectible receivables. April 1 Sold merchandise on account to Jim Dobbs, $7,200. The cost of the merchandise is $5,400. June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. Oct. 11 Reinstated the account of Jim Dobbs and received cash in full payment.

Using the following information, prepare a bank reconciliati…

Using the following information, prepare a bank reconciliation for Miller Co. for August 31: (a) The bank statement balance is $4,690 (b) The cash account balance is $5,080 (c) Outstanding checks amounted to $715 (d) Deposits in transit are $1,020 (e) The bank service charge is $40 (f) A check for $72 for supplies was recorded as $27 in the ledger