You have just received notice that Agnes Fisher, a customer of yours with an Accounts Receivable balance of $200, has gone bankrupt and will not be making any future payments. Assuming you use the allowance method, the journal entry you make is to
A) debit Uncollectible Accounts Expense and credit Accounts Receivable.
B) debit Allowance for Uncollectible Accounts and credit Uncollectible Accounts Expense.
C) debit Uncollectible Accounts Expense and credit Allowance for Uncollectible Accounts.
D) debit Allowance for Uncollectible Accounts and credit Accounts Receivable.
D
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