Solstice Company determines on October 1 that it cannot collect $50,000 of its accounts receivable from its customer, P. Moore. Apply the direct write-off method to record this loss as of October 1. Required:

Record the write off an account.

Date General Journal Debit Credit

Oct 01

Question

Business

Zara Singh

16 February, 13:08

Solstice Company determines on October 1 that it cannot collect $50,000 of its accounts receivable from its customer, P. Moore. Apply the direct write-off method to record this loss as of October 1. Required:

Record the write off an account.

Date General Journal Debit Credit

Oct 01

+4

Answers (1)

Know the Answer?

Alessandro Wilkinson · Answer 1

The journal entry is shown below:

Explanation:

According to the scenario, the Journal entry for the given data are as follows:

Journal entry.

Date General Journal Debit Credit

Oct. 01 Bad debts expense $50,000

Accounts receivable of Cust. P. Moore $50,000

(Being bad debt expense is being recorded)

Solstice Company determines on October 1 that it cannot collect $50,000 of its accounts receivable from its customer, P. Moore. Apply the direct write-off method to record this loss as of October 1. Required:Record the write off an account.Date General Journal Debit CreditOct 01

Solstice Company determines on October 1 that it cannot collect $50,000 of its accounts receivable from its customer, P. Moore. Apply the direct write-off method to record this loss as of October 1. Required:

Record the write off an account.

Date General Journal Debit Credit

Oct 01