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Under the direct write-off method, to record the receipt of cash after an account has previously being written off, you would first debit Bad Debt
Under the direct write-off method, to record the receipt of cash after an account has previously being written off, you would first
debit Bad Debt Expense. | |
debit Allowance for Doubtful Accounts. | |
reinstate the customer's account. | |
debit Cash and credit the customer's account. |
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