Allowance for Doubtful Accounts has a debit balance of $800 at the end of the year (before adjustment), and an analysis of accounts in the customers ledger indicates doubtful accounts of $15,000. Which of the following entries records the proper provision for doubtful accounts?
A) debit Uncollectible Accounts Expense, $800; credit Allowance for Doubtful Accounts, $800
B) debit Uncollectible Accounts Expense, $14,200; credit Allowance for Doubtful Accounts, $14,200
C) debit Allowance for Doubtful Accounts, $800; credit Uncollectible Accounts Expense, $800
D) debit Uncollectible Accounts Expense, $15,800; credit Allowance for Doubtful Accounts, $15,800
D
You might also like to view...
All the information needed to compute the cash flow adequacy ratio is found on the balance sheet
a. True b. False Indicate whether the statement is true or false
Exhibit 14-7 Magenta Corporation issued $500,000 of its 6%, 10-year bonds, dated January 1, 2016, at face value plus accrued interest on September 1, 2016. Interest is paid on June 30 and December 31. Magenta uses the most common method to record the sale of the bonds between interest payment periods. Refer to Exhibit 14-7. The entry to record the sale would include a
A) ?debit to Interest Expense for $20,000. B) ?debit to Cash for $505,000. C) ?credit to Bonds Payable for $520,000. D) ?credit to Interest Expense for $20,000.
One way to handle conflict across cultures is by responding to what is going on rather than what you think is going on and clarifying messages by ______.
Fill in the blank(s) with the appropriate word(s).
Which of the following is NOT characteristic of secondary research?
A) It can be expensive. B) It focuses on someone else's primary research. C) It is referred to as "desk research." D) It includes online databases.