Ask Question
31 January, 12:59

If Modern Company received $3,650 from Connor Young Company on March 12 for the total amount of an account that had been written off on March 1, the entry to record the cash receipt after the account has been reinstated under the direct write-off method a. includes a credit to Bad Debt Expense of $3,650. b. includes a debit to Allowance for Doubtful Accounts of $3,650. c. includes a credit to Cash of $3,650. d. is the same as it would be under the allowance method.

+2
Answers (1)
  1. 31 January, 14:26
    0
    Answer: the correct answer is a. includes a credit to Bad Debt Expense of $3,650.

    Explanation: the Debt was not going to be paid but then the company received the money so it corresponds the credit to Bad Debt Expense of $3,650.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “If Modern Company received $3,650 from Connor Young Company on March 12 for the total amount of an account that had been written off on ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers