Customer A,Smith owed Stonebridge Electronics $225
On April 27, 2016, Stonebridge determined this account receivable to be uncollectible and wrote off the account. The company uses the direct write-off method. On July 15, 2016, Stonebridge received a check for $225 from the customer. How should the July 15, 2016 transaction be recorded?
A)
July 15 Cash 225
Accounts Receivable - A. Smith 225
B)
July 15 Accounts Receivable - A. Smith 225
Bad Debt Revenue 225
July 15 Cash 225
Accounts Receivable - A. Smith 225
C)
July 15 Cash 225
Bad Debt Expense 225
D)
July 15 Accounts Receivable - A. Smith 225
Bad Debt Expense 225
July 15 Cash 225
Accounts Receivable - A. Smith 225
D
You might also like to view...
Which of the following phrases is most likely to lead to a communication breakdown?
A. "You're right…" B. "Listen to me…" C. "I appreciate…" D. "Please…"
Describe the significant changes that media convergence has had upon the news business
What will be an ideal response?
Cliff Thomas, a cardiologist, emigrates from Great Britain to the U.S. Under which of the following visa categories can his wife live in the U.S. as Mr. Thomas' dependent?
A) H1 B) H4 C) H-1C D) H-1B
According to your text, what is the biggest mistake marketers make when evaluating the success of their CSR programs?
A. including all significant stakeholder groups in the auditing process B. not evaluating the CSR program because of the financial impact it will have on the firm C. not including all significant stakeholder groups in the auditing process D. using both quantitative and qualitative measurements E. failing to evaluate the financial impact the auditing process will have on the firm