On January 1, Wei company begins the accounting period with a $43,000 credit balance in Allowance for Doubtful Accounts. On February 1, the company determined that $9,400 in customer accounts was uncollectible; specifically, $2,200 for Oakley Co. and $7,200 for Brookes Co. Prepare the journal entry to write off those two accounts. On June 5, the company unexpectedly received a $2,200 payment on a customer account, Oakley Company, that had previously been written off in part a. Prepare the entries to reinstate the account and record the cash received.

1.

Date                    Account Title                                          Debit           Credit

February 1           Allowance for Doubtful accounts        $9,400

                            Oakley Co. - Accounts Receivable                        $2,200

                            Brookes Co. - Accounts Receivable                      $7,200

2.

Date                    Account Title                                          Debit           Credit

June 5                Oakley Co. - Accounts Receivable       $2,200

                          Allowance for Doubtful Accounts                           $2,200

June 5              Cash                                                          $2,200

                          Oakley Co. - Accounts Receivable                           $2,200

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explanation: