Question: Under the direct write-off method, the account credited when an account is determined to be uncollectible is Bad Debt Expense Sales; Allowance for Bad Debts

Under the direct write-off method, the account credited when an account is determined to be uncollectible is


Bad Debt Expense



Sales;



Allowance for Bad Debts



Accounts Receivable

Step by Step Solution

★★★★★

3.34 Rating (145 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Under the direct writeoff method the account credited when an ... View full answer

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!

Q:

An oil drop whose mass is determined to be 2.8 x 1015kg is held at rest between two large plates separated by 1.0 cm when the potential difference between them is 340 V. How many excess electrons...

Q:

Why isn't the direct write off method of uncollectible accounts receivable the preferred method?

Q:

Which of the following differential equations is NOT LINEAR? A B 6y-xy"+y' + 4y = 4x D xy"-y' + 2xy = 0 Cy"-y'+2yy' = 0 y""' = 8

Q:

On October 31, 2014, Blossom Floral Supply had a $ 180,000 debit balance in Accounts Receivable and a $ 7,200 credit balance in Allowance for Bad Debts. During November, Blossom made the following...

Q:

The following balance sheet is presented for J.D.F Company as of December 31, 2011. During 2012, J.D.F entered into the following transactions.Made credit sales of $1,350,000 and cash sales of...

Q:

Paulines Pottery has always used the direct write- off method to account for uncollectibles. The companys revenues, bad debt write- offs, and year- end receivables for the most recent year follow:...

Q:

Patel Service Co. does make a few sales on account but is mostly a cash business. Consequently, it uses the direct write-off method to account for uncollectible accounts. During Year 1, Patel Service...

Q:

Hogan Business Systems has a small number of sales on account but is mostly a cash business. Consequently, it uses the direct write-off method to account for uncollectible accounts. During 2006 Hogan...

Q:

Hunan Service Co. does make a few sales on account but is mostly a cash business. Consequently, it uses the direct write-off method to account for uncollectible accounts. During 2011 Hunan Service...

Q:

Smart Business Systems has a small number of sales on account but is mostly a cash business. Consequently, it uses the direct write-off method to account for uncollectible accounts. During 2013 Smart...

Q:

Julio is paid on a graduated commission scale of 5% on the first $20,000 of sales in a month, 7.5% on the next $20,000, and 10% on all additional sales. a. What is he paid for a month in which his...

Q:

a) Consider a basic representation of policy preference curves and the Phillips Curve below: (i) What would policymaker indifference curves look like if a particular policymaker cared only about low...

Q:

DP1.6 Vehicle traction control, which includes antiskid braking and antispin acceleration, can enhance vehi cle performance and handling. The objective of this control is to maximize tire traction by...

Q:

A galvanometer needle deflects full scale for a 53.0-A current. What current will give full-scale deflection if the magnetic field weakens to 0.860 of its original value?

Q:

A 550-turn solenoid is 15cm long. The current in it is 33 A. A 3.0-cm-long straight wire cuts through the center of the solenoid, along a diameter. This wire carries a 22-A current downward (and is...

Q:

(a) use Amperes law to show that the magnetic field between the conductors of a coaxial cable (Fig. 20-63) is B = μol/2πr if r is greater than the radius of the inner wire and less than the...

Q:

A shell-and-tube heat exchanger consists of 135 thin-walled tubes in a double-pass arrangement, each of 12.5-mm diameters with a total surface area of 47.5 m 2 . Water (the tube-side fluid) enters...

Q:

A solution containing 100lb m KNO 3 /100lb m H 2 O at 80C is fed to a cooling crystallizer operated at 25C. Slurry from the crystallizer (KNO 3 crystals suspended in saturated solution) is fed to a...

Q:

Under what circumstance would you most likely use a wireless extender or repeater in a small office/home office (SOHO) design? Question 40 options: Persistent low signal Dead spots Radio-frequency...

Q:

Call Systems Company, a telephone service and supply company, has just completed its fourth year of operations. The direct write-off method of recording bad debt expense has been used during the...

Q:

Pegasus Company, a telephone service and supply company, has just completed its fourth year of operations. The direct write-off method of recording bad debt expense has been used during the entire...

Q:

Multiple Choice Questions 1. If a company uses the direct write-off method of accounting for bad debts, a. It is applying the matching principle. b. It will record bad debt expense only when an...

Q:

Q1. The allowance for bad debts is the portion of (__________________ / sales revenue) that is estimated as uncollectible and is reported on the balance sheet as a (_____________ / noncurrent asset /...

Q:

Raintree Cosmetic Company sells its products to customers on a credit basis. An adjusting entry for bad debt expense is recorded only at December 31, the company's fiscal year-end. The 2010 balance...

Q:

Tel-Com Company, a telephone service and supply company, has just completed its fourth year of operations. The direct write-off method of recording bad debt expense has been used during the entire...