SPH, Inc. uses the direct write-off method for uncollectible accounts. The entry to record the $64 invoice
Question:
SPH, Inc. uses the direct write-off method for uncollectible accounts. The entry to record the $64 invoice that Dave Case did not pay is
a. Debit Accounts Receivable/Dave Case, credit Uncollectible Accounts Expense.
b. Debit Allowance for Uncollectible Accounts, credit Accounts Receivable/Dave Case.
c. Debit Uncollectible Accounts Expense, credit Accounts Receivable/Dave Case.
d. Debit Uncollectible Accounts Expense, credit Cash.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (5 reviews)
Companies are required to record bad debt on financial sta...View the full answer
Answered By
Dudhat Vaidehi
I tutored mostly elementary school students privately after school and during the summer. We met in their homes or at the public library. I charged an hourly fee, and I provided any necessary materials.
Having taught in special education in two local schools for many years meant that I had contact with a lot of parents of special needs students. I never had to advertise — word of mouth was how most folks knew of me. At one point I did have a website, but didn't utilize it much. I stayed very busy, especially in the summers, and always had a full schedule. I typically met with each student's teacher in order to get an idea of what the focus of my instruction/remediation should be. Becoming familiar with the student's learning style(s) was also very helpful. Often parents would share records and test results with me. After each tutoring session, I documented the student’s progress and gave parents written updates, as well as phone calls or emails as needed.
While my students and I certainly utilized technology and the internet often during our sessions, I never tutored online or for any tutoring company, so am not familiar with the curriculums or methods used in those settings.
Tutoring one on one was very enjoyable and rewarding. My students and I had fun, and grew quite fond of one another. The extra income was a bonus. I had to retire from tutoring due to a physically handicapping disease, and miss my students very much.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Why isn't the direct write off method of uncollectible accounts receivable the preferred method?
-
A Eurobond is quoted at 95%. The annual coupon is 6% and we are exactly three months from the past payment. The bond is traded at ?
-
The allowance method of accounting for uncollectible accounts receivable involves the creation of contra account that shows the estimated amount of uncollectible receivables. Why would financial...
-
A managers key task is to balance which four customer service factors against which six logistics cost factors?
-
The following inventory pattern has been observed in the Zahm Corporation over 12 months: Use both three-month and five-month moving-average models to forecast the inventory for the next January. Use...
-
Jasmine transferred land she held as an investment (fair market value $140,000; basis $110,000) in exchange for 50 percent of Kandy Corporation stock (40 shares valued at 100,000) and $40,000 cash in...
-
Identify the five types of information included in a standard bank confirmation.
-
Larkin State University is a medium-sized academic institution located in the Southeastern United States. The university employs about 250 full-time faculty and 300 staff personnel. There are 12,000...
-
1. Show that if r Q and yR\Q then r+y & Q, and if in addition x = 0 then zy & Q. 2. Show that there is equality in the triangle inequality |a+b| |a|+|b| if and only if ab 0.
-
Oday is December 25, 2020 and Tony Fern, the sole shareholder and president of the company, has requested a meeting with you to discuss various tax issues related to the companys December 31, 2020...
-
Evaluate (a) the direct write-off method and (b) the allowance method.
-
a . What accounts are debited and credited in the adjusting entry to record uncollectible accounts using the allowance method? b . What is the account classification of Allowance for Uncollectible...
-
Referring to Table 14.1 for E 0 values, calculate G for oxidation of malate by malate dehydrogenase. Table 14.1 TABLE 14.1 Standard reduction potentials of interest in biochemistry Oxidant Acetate +...
-
In stop-and-wait transmission, suppose that both sender and receiver retransmit their last frame immediately on receipt of a duplicate ACK or data frame; such a strategy is superficially reasonable...
-
You are an Internet service provider; your client hosts connect directly to your routers. You know some hosts are using experimental TCPs and suspect some may be using a greedy TCP with no congestion...
-
Diagram cipher block chaining as described in Section 8.2.1. Plaintext block 3. Plaintext block 2 Plaintext block 1 Plaintext block 0 Initialization vector (For block 0 only) Encryption function...
-
Choose a Web Service with equivalent REST and SOAP interfaces, such as those offered by Amazon.com. Compare how equivalent operations are implemented in the two styles.
-
What will happen if traceroute is used to find the path to an unassigned address? Does it matter if the network portion or only the host portion is unassigned?
-
During the course of a year, the labor force consists of the same 1,000 people. Employers have chosen not to hire 20 of these people in the face of government regulations making it too costly to...
-
When is the indirect pattern appropriate, and what are the benefits of using it?
-
In the following situations, indicate whether the taxpayer qualifies as a head of household. a. Allen is divorced from his wife. He maintains a household for himself and his dependent mother. b. Beth...
-
For the following independent situations, determine the optimum filing status for the years in question. a. Wayne and Celia had been married for 24 years before Wayne died in an accident in 2015....
-
self-employed. Her gross business income was $49,000 and her business expenses totaled $24,000. Each contributed $5,500 to a deductible IRA. Their itemized deductions total $13,000. Compute Parts a,...
-
A useful quantitative model for the grinding of lenses with known focal lengths is the lens-makers' equation: nlens environment 1) (1/4-1/2), where f is the focal length of the lens, the two index of...
-
Accelerating uniformly to overtake a slow-moving truck, a car moving initially at 24.4 m/s covers 67.2 m in 2.48 s. (a) What is the final speed of the car? m/s (b) What is the magnitude of the car's...
-
A student throws a set of keys vertically upward to her sorority sister, who is in a window 3.20 m above. The second student catches the keys 2.80 s later. (a) with what initial velocity were the...
Study smarter with the SolutionInn App