If an entity is not able to recover its balances outstanding in respect of certain receivables refers: a. Receivable allowances Ob. Bankruptcy Oc. Receivables Od. Irrecoverable receivables What is correct adjusting entry of prepayment? Debit-Prepayment, Credit-expense Ob. Debit-Expense, Credit-Cash Oc. Debit-Expense, Credit- Pre-paid expense Od. Debit- Pre-paid expense, Credit- Cash