Question 34 (2 points)

Elm Lawncare learns that an account receivable from Diamond Co. for $200 will not ever be collectible because Diamond Co. has gone out of business. If Elm Lawncare uses the Allowance method to account for uncollectible accounts, which of the following, if any, is the appropriate entry, to write off the account?

Question 34 options:

	Debit: Bad Debts Expense $200 Credit: Accounts Receivable $200
	No entry required
	Debit: Allowance for Unocollectible Accounts $200 Credit: Accounts Receivable $200
	Debit: Bad Debts Expense $200 Credit: Allowance for Uncollectible Accounts $200

Question 35 (2 points)

Which of the following is a detective control?

Question 35 options:

	Employee management
	Physical controls
	Reconciliations
	Separation of duties