Explain the direct charge-off method for recording uncollectible accounts expense.
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Explain the direct charge-off method for recording uncollectible accounts expense.
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Introduction There are two methods used to record uncollectable accounts expense ie the allowance method and direct charge off method Here we are concerned about direct charge off method Direct charge off method The direct charge off method is also known by specific charge off method Under this method the losses from uncollectable accounts are record only when a particular customer account is uncollectable Under this method the accounts receivable will be removed from accounts receivable and charge to uncollectable account ...View the full answer
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Related Book For
College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina
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