Gem received a bank transfer for 2 5 on 3 0 June 2 0 X 2 from

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Question:

Gem received a bank transfer for

25

30

June

20

2

from a credit customer in settlement of an outstanding debt of

100,

along with notification that the remainder of the debt will never be paid. What is the double entry to be recorded on

30

June

20

2 ?

Related Book For answer-question

Financial Accounting in an Economic Context

ISBN: 978-0470635292

8th Edition

Authors: Jamie Pratt

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Posted Date: Mar 22, 2024 11:10 PM

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Gem received a bank transfer for 2 5 on 3 0 June 2 0 X 2 from

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The double entry to be recorded on June 30 20X2 for this situation is Account 1 Bad De... View the full answer

Financial Accounting in an Economic Context

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