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Theo Corp. received a $1,700 cash payment from a customer after the customer's balance had been written off by Theo Corp. using the Allowance method.
Theo Corp. received a $1,700 cash payment from a customer after the customer's balance had been written off by Theo Corp. using the Allowance method. If recorded using two entries, the journal entries recorded for the recovery would include a debit to:
- A.
Allowance for Doubtful Accounts
- B.
Bad Debt Expense
- C.
Accounts Receivable
- D.
Sales Revenue
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