Debts that a firm is unable to recover are debited to bad...
Debts that a firm is unable to recover are debited to bad debts account and credited to
Suppliers account
Sales account
Customers account
Cash account
Correct answer is A
The entry to write off a bad debt account affects only balance sheet accounts: a debit to Allowance for Doubtful Accounts and a credit to Accounts Receivable.
Accounts receivable is money owed to a company by its debtors.
Departments K Y Opening 2,500 800 Purchases 120,000 100,000 Sales 180,000 200,000 Salary 8,000 3...
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Sales N20,000 Cost sales N10,000 Operating expenses N2,500 Expenses prepaid included in op...
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Given: ........Jan. 2003.........Dec. 2003 Provision for bad debt........N1000 Debtors........