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I would like to know if my answers are correct. If not, what's the right answer? The options I get for each blue box are:
I would like to know if my answers are correct. If not, what's the right answer? The options I get for each blue box are: AP William Pruitt, AR William Pruitt, Allowance for doubtful accounts, Bad debt expense, Cash, Sales.
Direct Write-Off Method Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables: Oct. 2: Received $2,390 from William Pruitt and wrote off the remainder owed of $3,080 as uncollectible. If an amount box does not require an entry, leave it blank. Oct. 2 Accounts Payable-William Pruitt Bad Debt Expense 2,390 3,080 Sales Dec. 20: Reinstated the account of William Pruitt and received $3,080 cash in full payment. Dec. 20-Reinstate Allowance for Doubtful Accounts 3,080 Cash 3,080 Dec. 20-Collection Bad Debt Expense Allowance for Doubtful Accounts
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