(Appendix) CORRECTING AN ERRONEOUS WRITE-OFF. The new bookkeeper at Karlin Construction Company was asked to write off...

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(Appendix) CORRECTING AN ERRONEOUS WRITE-OFF. The new bookkeeper at Karlin Construction Company was asked to write off two accounts totaling $1,710 that had been determined to be uncollectible. Accordingly, he debited accounts receivable for 5 $1,710 and credited uncollectible account expense for the same amount. LO3 REQUIRED:

1. What was wrong with the bookkeeper’s entry?

2. Give both the entry he should have made and the entry required to correct his error.

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Financial Accounting

ISBN: 9780470128848

6th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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