Under the direct write-off method, the journal entry to record Uncollectible-Account Expense includes a credit to Accounts Receivable.
举一反三
- Under the direct write-off method, allowance for Uncollectible accounts does not exist.
- Companies use two methods to account for uncollectible accounts: the direct write-off method and the allowance method. ( )
- 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.
- When the allowance method is used for bad debts ,the entry to write off an individual account known to be uncollectible involves a
- An attorney performs services of $1,100 for a client and receives $400 cash, with the remainder on account. The journal entry for this transaction would A: debit Cash, debit Service Revenue, credit Accounts Receivable. B: debit Cash, debit Accounts Receivable, credit Service Revenue. C: debit Cash, credit Service Revenue. D: debit Cash, credit Accounts Receivable, credit Service Revenue.