Solved

A Notice Was Received from Mary,who Is a Customer,that She  Bad Debt Expense 1,250 Allowance for Doubtful Accounts 1,250\begin{array}{|l|l|}\hline\text { Bad Debt Expense } & 1,250 \\\hline \text { Allowance for Doubtful Accounts } & 1,250\\\hline\end{array}

Question 87

Multiple Choice

A notice was received from Mary,who is a customer,that she was bankrupt.If using an allowance method,the entry to write-off her balance of $1,250 would be:


A)
 Bad Debt Expense 1,250 Allowance for Doubtful Accounts 1,250\begin{array}{|l|l|}\hline\text { Bad Debt Expense } & 1,250 \\\hline \text { Allowance for Doubtful Accounts } & 1,250\\\hline\end{array}
B)
 Accounts Receivable/Mary 1,250 Bad Debt Expense 1,250\begin{array} { | c | l | } \hline \text { Accounts Receivable/Mary } & 1,250 \\\hline \text { Bad Debt Expense } & 1,250 \\\hline\end{array}
C)
 Allowance for Doubtful Accounts 1,250 Accounts Receivable/Mary 1,250\begin{array} { | c | l | } \hline \text { Allowance for Doubtful Accounts } & 1,250 \\\hline \text { Accounts Receivable/Mary } & 1,250 \\\hline\end{array}
D) None of the above

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions