The adjusting entry to record the estimated bad debts in the period credit sales occur includes a debit to an:
A. expense account and a credit to a contra-asset account.
B. asset account and a credit to a liability account.
C. expense account and a credit to an asset account.
D. expense account and a credit to a revenue account.
Answer: A
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______________________________ show the time periods that employees are in attendance at the job site and available for work
Fill in the blank(s) with correct word
Which of the following accounts is decreased with a credit?
a. Advertising Fees Earned b. Insurance Expense c. Common Stock d. Unearned Revenue
When a company chooses to divest a particular strategic business unit, it ________
A) increases the advertising budget for that strategic business unit B) invests more in the strategic business unit to build its market share C) sells off or phases out the strategic business unit D) invests just enough in the strategic business unit to keep its market share at the current level E) gradually increases investment in the strategic business unit over time to maximize profits
Teller Inc reported an allowance for doubtful accounts of $30,000 (credit) at December 31 . 2013 . before performing an aging of accounts receivable. As a result of the aging, Teller Inc determined that an estimated $52,000 of the December 31 . 2013 . accounts receivable would prove uncollectible. The adjusting entry required at December 31 . 2013 . would be
a. Doubtful Accounts Expense ........... 22,000 Allowance for Doubtful Accounts ... 22,000 b. Allowance for Doubtful Accounts ..... 22,000 Accounts Receivable ............... 22,000 c. Doubtful Accounts Expense ........... 52,000 Allowance for Doubtful Accounts ... 52,000 d. Allowance for Doubtful Accounts ..... 52,000 Doubtful Accounts Expense ......... 52,000