Question: please help Under the direct write-off method, when an account receivable is written off in one accounting period and is collected in the following accounting

please help please help Under the direct write-off method, when an account receivable is

Under the direct write-off method, when an account receivable is written off in one accounting period and is collected in the following accounting period, which of the following would be included in the journal entry? Oa. debit Accounts Receivable Ob. credit Bad Debt Expense Occredit Cash Od credit Accounts Receivable Under the direct write-off method, when an account receivable is written off in one accounting period and is collected in the following accounting period, which of the following would be included in the journal entry? Oa. debit Accounts Receivable Ob. credit Bad Debt Expense Occredit Cash Od credit Accounts Receivable

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

nusting ror estimated 31. The allowance for bad debts account is contra to which of the following accounts? Auwr ide 32. After aging the accounts receivable, it is estimated that $1,200 will not be...

SLUI ront Styles | Paragraph receivables after adjustment would be (A) $99,000; (B) $99.400; (C) $99,600; (D) $98,000, (E) none of these. Under the direct write-off method, when an account receivable...

The direct write-off method records Uncollectible - Account Expense OA the end of the accounting period O in the accounting period one year after the sale date OG when the specific account receivable...

Match each of the following definition with its terms. Anser have : Accounts receivable, Aging method , allowance method, credit sales, Direct write-off method, Net revenues , Notes receivable, Sales...

If a company wanted to pay less income taxes, they would choose FIFO LIFO Weighted Average Specific Identification Flag this Question Question 32 2 pts To reconcile the bank statement, which of the...

Please type your answer. Thank you for your help!!! Fan-Tastic Sports Gear You have just been hired as the accountant for Fan-Tastic Sports Gear, a wholesaler of sporting goods and apparel. The...

* 1) Which of the following is true of internal control? A) Internal control procedures tend to diminish the importance of operational efficiency. B) One of the major purposes of internal control is...

13. A method of estimating bad debts expense that involves a detailed examination of outstanding accounts and their length of time past due is the: (Points : 2) Direct write-off method Aging of...

5) Which of the following inventory costing methods uses the cost of the oldest purchases to calculate the cost of goods sold? A) Specific identification B) Weighted average C) Last-in, first-out D)...

The Allowance for uncollectible accounts currently has a credit balance of $900. After analyzing the accounts in the accounts receivable subsidiary ledger using the aging method, the company's...

Wilson Company has a predetermined overhead rate of $5 per direct labor hour. The job-order cost sheet for Job 145 shows 500 direct labor hours costing $10,000 and materials requisitions totaling...

Find the future value (compound amount) and compound interest. Use Table 13-1 or the future value and compound interest formula. See examples 3 and 4. An investment of $7,000 at 2% compounded...

Works that are copyrightable include brochures, or other printed advertisements. True False

(Appendices) PREPARATION OF MERCHANDISING FINANCIAL STATEMENTS. Jay Coat Company has prepared the following unadjusted trial balance as of December Ble Ox2: LO9 The following data are also available:...

(Appendices) UNCOLLECTIBLE ACCOUNT EXPENSE: CREDIT SALES METHOD. The Glass House, a glass and china store, sells nearly half its merchandise on credit. During the past 4 years, the following data...

(Appendices) PURCHASES AND PURCHASES RETURNS. On November 6, Lubin Products purchased on credit 350 parts kits from Michaels Electronics for $38 per kit. Michaels paid $320 to have the kits shipped...