ABC Company paid €830 on account to a creditor. The transaction was erroneously recorded as a debit to Cash of €380 and a credit to Accounts Receivable, €380. The correcting entry is: O a. Accounts Receivable. 380 Accounts Payable. 380 O b. Accounts Payable.. 830 Cash. 830 c. Accounts Receivable. 380 Accounts Payable. 830 Cash. O d. Accounts Receivable. 380 380 Cash.

ABC Company paid €830 on account to a creditor. The transaction was erroneously recorded as a debit to Cash of €380 and a credit to Accounts Receivable, €380. The correcting entry is: O a. Accounts Receivable. 380 Accounts Payable. 380 O b. Accounts Payable.. 830 Cash. 830 c. Accounts Receivable. 380 Accounts Payable. 830 Cash. O d. Accounts Receivable. 380 380 Cash.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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19) Intercom, Inc. paid one of its creditors $678 on their balance due. The journal entry would require a: A) credit to Cash and a debit to Accounts Receivable. B) debit to Cash and a credit to Accounts Receivable. C) debit to Cash and a credit to Accounts Payable. Di debit to Accounts Payable and credit to Cash.
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Q: What are the journal entries for the following transactions related to Uncollectable accounts? On January 31st, accounts receivable amount to Rs=10,000. On this date, the credit manager reviews the accounts receivable and estimates that approximately Rs=850 of these accounts will prove to be uncollectable. Assume that the customer (Ali enterprise) is gone out of business and Rs=300 account receivable from the customer is now worthless. Assume for example, that a past-due account receivable in the amount of Rs=150 from XYZ was written off on March 16, 2020. All of a sudden, XYZ pays the account in full. Record the journal entry.