Business, 11.11.2019 22:31 jdvazquez18p7a7vs
If ohio company received $2,250 as partial payment on the $5,500 account of carson mueller co. and wrote off the remaining balance as uncollectible, the only difference between recording the entry under the direct write-off method and the allowance method (assuming that an adequate allowance account had been set up) would be
a. a debit to bad debt expense for $3,250 under the direct method rather than a debit to accounts receivable for $3,250 under the allowance method.
b. a debit to bad debt expense for $3,250 under the direct method rather than a debit to allowance for doubtful accounts for $3,250 under the allowance method.
c. a credit to accounts receivable for $3,250 under the direct method rather than a credit to allowance for doubtful accounts for $3,250 under the allowance method.
d. a debit to cash for $2,250 under the direct method rather than a credit to cash for $2,250 under the allowance method.
Answers: 3
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If ohio company received $2,250 as partial payment on the $5,500 account of carson mueller co. and w...
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