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
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
ChapterB: Bad Debts
Section: Chapter Questions
Problem 3P: Nillsons Nursery uses the direct write-off method for recording bad debts. Required Journalize the...
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