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Newton Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Newton Company wrote off the $2,100 uncollectible account of its
Newton Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Newton Company wrote off the $2,100 uncollectible account of its customer, P. Stanley. On July 10, Newton received a check for the full amount of $2,100 from Stanley. On July 10, the entry or entries Newton makes to record the recovery of the bad debt is:
A
Cash | 2,100 | |
Accounts Receivable P. Stanley | 2,100 |
B
Accounts Receivable P. Stanley | 2,100 | |
Allowance for Doubtful Accounts | 2,100 | |
Cash | 2,100 | |
Accounts Receivable P. Stanley | 2,100 |
C
Cash | 2,100 | |
Bad Debts Expense | 2,100 |
D
Allowance for Doubtful Accounts | 2,100 | |
Accounts Receivable P. Stanley | 2,100 | |
Accounts Receivable P. Stanley | 2,100 | |
Cash | 2,100 |
E
Accounts Receivable P. Stanley | 2,100 | |
Bad Debts Expense | 2,100 | |
Cash | 2,100 | |
Accounts Receivable P. Stanley | 2,100 |
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