How to record an amount due for customer that becomes definitely uncollectible? 2. How to record an amount due for customer that the entity might not be able to collect from customer? CHOICES for number 1 & 2: a. Dr Allowance for Bad Debts and Cr Cash b. Dr Allowance for Bad Debts and Cr Accounts Receivable c. Dr Bad Debt Expense and Cr Allowance for Bad Debts d. Dr Bad Debt Expense and Cr Cash 3. How to recognize the depreciation of an equipment? a. Dr Depreciation Expense and Cr Accumulated Depreciation b. Dr Accumulated Depreciation and Cr Depreciation Expense c. Dr Depreciation Expense and Cr Cash d. Dr Cash and Cr Accumulated Depreciation 4. How to record an expenses for which payment has not been made? a. Dr Expense and Cr Accounts Payable b. Dr Expense and Cr Accrued Expense Payable c. Dr Expense and Cr Cash d. Dr Expense and Cr Account Receivable
How to record an amount due for customer that becomes definitely uncollectible? 2. How to record an amount due for customer that the entity might not be able to collect from customer? CHOICES for number 1 & 2: a. Dr Allowance for Bad Debts and Cr Cash b. Dr Allowance for Bad Debts and Cr Accounts Receivable c. Dr Bad Debt Expense and Cr Allowance for Bad Debts d. Dr Bad Debt Expense and Cr Cash 3. How to recognize the depreciation of an equipment? a. Dr Depreciation Expense and Cr Accumulated Depreciation b. Dr Accumulated Depreciation and Cr Depreciation Expense c. Dr Depreciation Expense and Cr Cash d. Dr Cash and Cr Accumulated Depreciation 4. How to record an expenses for which payment has not been made? a. Dr Expense and Cr Accounts Payable b. Dr Expense and Cr Accrued Expense Payable c. Dr Expense and Cr Cash d. Dr Expense and Cr Account Receivable
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. How to record an amount due for customer that becomes definitely uncollectible?
2. How to record an amount due for customer that the entity might not be able to collect from customer?
CHOICES for number 1 & 2:
a. Dr Allowance for Bad Debts and Cr Cash
b. Dr Allowance for Bad Debts and Cr Accounts Receivable
c. Dr Bad Debt Expense and Cr Allowance for Bad Debts
d. Dr Bad Debt Expense and Cr Cash
3. How to recognize the depreciation of an equipment?
a. Dr Depreciation Expense and Cr Accumulated Depreciation
b. Dr Accumulated Depreciation and Cr Depreciation Expense
c. Dr Depreciation Expense and Cr Cash
d. Dr Cash and Cr Accumulated Depreciation
4. How to record an expenses for which payment has not been made?
a. Dr Expense and Cr Accounts Payable
b. Dr Expense and Cr Accrued Expense Payable
c. Dr Expense and Cr Cash
d. Dr Expense and Cr Account Receivable
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