Ask Question
10 January, 11:51

Miles uses the allowance method and wrote off the account of James. Miles then received $559 as partial payment on the account of James. The journal entry to record the initial write-off includes a (A) debit to Allowance for Doubtful Accounts (B) debit to Accounts Receivable-James (C) credit to Bad Debt Expense (D) credit to Cash

+4
Answers (1)
  1. 10 January, 11:57
    0
    (A) debit to Allowance for Doubtful Accounts

    Explanation:

    The write-off will decrease both, the allowance and the account receivable account. Thus, it will recognize no expense as this is the objective of the allowance method.

    allowance for doubbtful accounts 559 debit

    accounts receivable 559 credit
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Miles uses the allowance method and wrote off the account of James. Miles then received $559 as partial payment on the account of James. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers