When a company uses the allowance method of accounting for uncollectible receivables, the entry to reinstate a previously written off account would include: A. A credit to Bad Debt ExpenseB. A debit to Bad Debt ExpenseC. A debit to Allowance for Doubtful AccountsD. A credit to Allowance for Doubtful Accounts

Question

06-09-2019
Business

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When a company uses the allowance method of accounting for uncollectible receivables, the entry to reinstate a previously written off account would include: A. A credit to Bad Debt ExpenseB. A debit to Bad Debt ExpenseC. A debit to Allowance for Doubtful AccountsD. A credit to Allowance for Doubtful Accounts

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agustinsr99 agustinsr99 · Answer 1 · 2019-09-06T22:55:38+02:00

Answer: When a company uses the allowance method of accounting for uncollectible receivables, the entry to reinstate a previously written off account would include: "C. A debit to Allowance for Doubtful Accounts".

Explanation: Registration would be: Debit to "Allowance for Doubtful Accounts" and Credit to "Accounts Receivable".

Example:

--------------------------------------- . -----------------------------------

Allowance for Doubtful Accounts 100

Accounts Receivable 100

--------------------------------------- . ------------------------------------