On 1 July 2022, the opening balance of the Allowance for Doubtful Debts account of Jet Star Ltd was a credit of $1960. The business is registered for GST. On 31 July 2022 Jet Star received 50% of the $1540 balance owed by Novak Djokovic and wrote off the remainder as a bad debt. 

What is the journal entry to record this transaction?

Answer rating: 100% (QA)

To record the transaction you would need to make two journal entries The first entry records th... View the full answer