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After a comprehensive review of its customers, Zenith decides that customers owing it $4,200 will never pay what they owe. The company had previously made
After a comprehensive review of its customers, Zenith decides that customers owing it $4,200 will never pay what they owe. The company had previously made provisions for possible bad debts. Record this adjusting entry by:
Journal entry title | Debit | Credit |
Allowance for doubtful accounts | 4200 |
|
Account receivable |
| 4200 |
To write off an uncollectible account |
|
|
< OR by filling in the horizontal model below>
Assets | Liabilities | Owners Equity |
| Net Income | Revenues | Expenses |
+4200 |
|
|
|
|
| +4200 |
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