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Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2,000 uncollectible account of its customer, A. Hopkins. The entry or entries Gideon makes to record the write off of the account on May 3 is: Multiple Choice Account Title Debit Credit 2,000 Allowance for Doubtful Accounts. Bad Debts Expense 2,000 Account Title Debit Credit 2,000 Accounts Receivable-A. Hopkins Bad Debts Expense 2,000 Cash 2,000 Accounts Receivable-A. Hopkins 2,000 Account Title Debit Credit 2,000 Accounts Receivable-A. Hopkins Allowance for Doubtful Accounts 2,000 O O о

Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2,000 uncollectible account of its customer, A. Hopkins. The entry or entries Gideon makes to record the write off of the account on May 3 is: Multiple Choice Account Title Debit Credit 2,000 Allowance for Doubtful Accounts. Bad Debts Expense 2,000 Account Title Debit Credit 2,000 Accounts Receivable-A. Hopkins Bad Debts Expense 2,000 Cash 2,000 Accounts Receivable-A. Hopkins 2,000 Account Title Debit Credit 2,000 Accounts Receivable-A. Hopkins Allowance for Doubtful Accounts 2,000 O O о

FINANCIAL ACCOUNTING
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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Question 28
Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2,000 uncollectible account of its customer, A. Hopkins. The entry or entries Gideon makes to record the write off of the account on May 3 is: Multiple Choice Account Title Debit Credit 2,000 Allowance for Doubtful Accounts Bad Debts Expense 2,000 Account Title Debit Credit 2,000 Accounts Receivable-A. Hopkins Bad Debts Expense 2,000 Cash 2,000 Accounts Receivable-A. Hopkins 2,000 Account Title Debit Credit Accounts Receivable-A. Hopkins 2,000 Allowance for Doubtful Accounts 2,000 O O
Transcribed Image Text:Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2,000 uncollectible account of its customer, A. Hopkins. The entry or entries Gideon makes to record the write off of the account on May 3 is: Multiple Choice Account Title Debit Credit 2,000 Allowance for Doubtful Accounts Bad Debts Expense 2,000 Account Title Debit Credit 2,000 Accounts Receivable-A. Hopkins Bad Debts Expense 2,000 Cash 2,000 Accounts Receivable-A. Hopkins 2,000 Account Title Debit Credit Accounts Receivable-A. Hopkins 2,000 Allowance for Doubtful Accounts 2,000 O O
Account Title Accounts Receivable-A. Hopkins Bad Debts Expense Cash Accounts Receivable-A. Hopkins Account Title Accounts Receivable-A. Hopkins Allowance for Doubtful Accounts Account Title Allowance for Doubtful Accounts Accounts Receivable-A. Hopkins Account Title Cash Accounts Receivable-A. Hopkins Debit 2,000 2,000 Debit 2,000 Debit 2,000 Debit 2,000 Credit 2,000 2,000 Credit 2,000 Credit 2,000 Credit 2,000
Transcribed Image Text:Account Title Accounts Receivable-A. Hopkins Bad Debts Expense Cash Accounts Receivable-A. Hopkins Account Title Accounts Receivable-A. Hopkins Allowance for Doubtful Accounts Account Title Allowance for Doubtful Accounts Accounts Receivable-A. Hopkins Account Title Cash Accounts Receivable-A. Hopkins Debit 2,000 2,000 Debit 2,000 Debit 2,000 Debit 2,000 Credit 2,000 2,000 Credit 2,000 Credit 2,000 Credit 2,000
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