The LLYOD bank statement for the month of June shows that there is $13,300 difference with the cash balance per book. The difference occurs on the 12 of June as one of the customers’ outstanding check has been returned because of not sufficient fund. Record the required entries at the end of June. Select one: a. Dr Bad Debt Expense 13,300 - Cr Account Receivable 13,300 b. Dr Accounts Receivable 13,300 - Cr Cash 13,300 c. Dr Allowance for doubtful accounts 13,300 - Cr Bad Debt Expense 13,300 d. Dr Cash 13,300 - Cr Account Payable 13,300
The LLYOD bank statement for the month of June shows that there is $13,300 difference with the cash balance per book. The difference occurs on the 12 of June as one of the customers’ outstanding check has been returned because of not sufficient fund. Record the required entries at the end of June. Select one: a. Dr Bad Debt Expense 13,300 - Cr Account Receivable 13,300 b. Dr Accounts Receivable 13,300 - Cr Cash 13,300 c. Dr Allowance for doubtful accounts 13,300 - Cr Bad Debt Expense 13,300 d. Dr Cash 13,300 - Cr Account Payable 13,300
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The LLYOD bank statement for the month of June shows that there is $13,300 difference with the cash balance per book. The difference occurs on the 12 of June as one of the customers’ outstanding check has been returned because of not sufficient fund. Record the required entries at the end of June.
Select one:
a. Dr Bad Debt Expense 13,300 - Cr Account Receivable 13,300
b. Dr Accounts Receivable 13,300 - Cr Cash 13,300
c. Dr Allowance for doubtful accounts 13,300 - Cr Bad Debt Expense 13,300
d. Dr Cash 13,300 - Cr Account Payable 13,300
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