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26 December, 16:35

Gideon company uses the allowance method of accounting for uncollectible accounts. on may 3, the gideon company wrote off the $2,200 uncollectible account of its customer,

a. hopkins. the entry or entries gideon makes to record the write off of the account on may 3 is:

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  1. 26 December, 20:15
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    In order to write off the $2,200 amount as an uncollectible account there is one entry that the bookkeeper needs to make.

    The entry will be a debit to bad debt expense for $2,200 and a credit to the allowance for uncollectible accounts for $2,200. What this entry will do is remove it as a contra-asset amount in the allowance for uncollectible accounts and charge it as an expense.
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