On December 31, 2021, Ghani Catering discovered that one of its customers, Vince Suerty, had gone bankrupt. He owes the company $4,600. Prepare the journal entry towrite off the amount due from Vince Suerty, assuming the direct method is used.Do not enter dollar signs or commas in the input boxes.DateDec 31Account Title and Explanation+To record direct write-off of bad debt from accounts receivableDebitCredit

Journal entry is a primary entry that records the financial transactions initially. The transactions…

Answered: On December 31, 2021, Ghani Catering…

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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On December 31, 2021, Ghani Catering discovered that one of its customers, Vince Suerty, had gone write off the amount due from Vince Suerty, assuming the direct method is used.