Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2700 uncollectible account of its customer, A. Hopkins. The entry or entries Gideon makes to record the write off of the account on May 3 is:
A.
| Cash | 2700? | |
| Accounts Receivable-A. Hopkins | 2700? |
B.
| Allowance for Doubtful Accounts | 2700? | |
| Bad debts expense | 2700? |
C.
| Accounts Receivable-A. Hopkins | 2700? | |
| Bad debts expense | 2700? | |
| Cash | 2700? | |
| Accounts Receivable-A. Hopkins | 2700? |
D.
| Accounts Receivable-A. Hopkins | 2700? | |
| Allowance for Doubtful Accounts | 2700? |
E.
| Allowance for Doubtful Accounts | 2700? | |
| Accounts Receivable-A. Hopkins | 2700? |
Answer: E
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