Under the direct write-off method, when a previously written-off account is recovered in the same accounting period, which of the following entries is required to reinstate the account?
a. debit Accounts Receivable and credit Bad Debt Expense
b. debit Accounts Receivable and credit Cash
c. debit Cash and credit Bad Debt Expense
d. debit Cash and credit Accounts Receivable
a
You might also like to view...
Describe sponsorship marketing
What will be an ideal response?
This ethics expert expanded upon Lonergan’s decision-making method?
A. Joseph Badaracco B. Catharyn Baird C. Lynn Paine D. James Rest
Everyone has his or her own definition of what it takes to be an excellent leader. Which of
the following would not be included in a positive definition? a. Showing care and respect for others b. Practicing what they preach c. Making time for others d. Assuming personal credit for the work of the group
The ________ states that the intent to contract is judged by the reasonable person standard and not by the subjective intent of the parties
A) Restatement of the Law of Contracts B) Restatement (Second) of Contracts C) objective theory of contracts D) common law of contracts