In the direct write-off method. TechCom determines on January 23 that it cannot collect $5000 owed to it by its customer J. Kent. So it should make the following entry:Bad Debt Expense 5000 Accounts Receivable 5000

2022-06-06

In the direct write-off method. TechCom determines on January 23 that it cannot collect $5000 owed to it by its customer J. Kent. So it should make the following entry:Bad Debt Expense 5000 Accounts Receivable 5000

答案：

对

举一反三

Using the direct write-off method, the bad debt expense that is recorded as a specific customer's account is determined to be noncollectible.
Under the direct write-off method, the journal entry to record Uncollectible-Account Expense includes a credit to Accounts Receivable.
Companies use two methods to account for uncollectible accounts: the direct write-off method and the allowance method. ( )
Under the allowance method of accounting for uncollectible accounts receivable, no attempt is made to estimate the bad debt expense. ( )
The direct write-off method of accounting for bad debts records the loss from an uncollectible account receivable when it is determined to be uncollectible.

内容

0
Which of the following is not one of the five classes of transactions included in the sales and collection cycle? （） A: Interest Income B: Sales returns and allowances C: Bad debt expense D: Write-off of uncollectible accounts
1
Under the direct write-off method, allowance for Uncollectible accounts does not exist.
2
Under the allowance method, the aging of accounts receivable method is one method to estimate the amount of bad debts.
3
When the allowance method is used for bad debts ,the entry to write off an individual account known to be uncollectible involves a
4
The matching principle requires use of the direct write-off method of accounting for bad debts.