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a . Journalize the write - offs under the direct write - off method. If an amount box does not require an entry, leave it
a Journalize the writeoffs under the direct writeoff method. If an amount box does not require an entry, leave it blank.
Bad Debt Expense
Accounts ReceivableJenny Green
Accounts ReceivableMike Lamb
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Under the direct writeoff method, Bad Debt Expense is recorded when the customer's account is determined to be worthless and writtenoff. There is no adjusting entry at yearend to record estimated bad debt.
b Journalize the writeoffs and the yearend adjusting entry under the allowance method, assuming that the allowance account had a beginning balance of $ and the company uses the analysis of receivables method. If an amount box does not require an entry, leave it blank.
Accounts ReceivableLee Drake
Accounts ReceivableMike Lamb
Allowance for Doubtful Accounts
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