Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A small company has a credit sales of OMR 50,000 during the year 2019 At the end of 2019, the uncollectible account war estimated to

image text in transcribed
A small company has a credit sales of OMR 50,000 during the year 2019 At the end of 2019, the uncollectible account war estimated to be of the credit sales. At the end of the year actual bad debts were written on but it was revealed during 2020 that all the bad debts have been recovered What will be the journal entry for bad debts recovered? Cash OMR 1,250 will be debited and accounts receivables OMR 1,250 will be credited Cash OMR 2,500 will be debited and accounts receivables OMR 2. SOD wil be credited Cash OMR 2,500 will be debited and bad debts recovered OMR 2.500 will be credited Cash OMR 1,250 will be debited and bad debts recovered OMR 1.250 will be credited

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Organizational Network Analysis Auditing Intangible Resources

Authors: Anna Ujwary-Gil

1st Edition

1032085215, 978-1032085210

More Books

Students also viewed these Accounting questions