On February 1, a customer\'s account balance of $4300 was deemed to be uncollect

Question

On February 1, a customer's account balance of $4300 was deemed to be uncollectible. What entry should be recorded on February 1 to record the write-off assuming the company uses the allowance method? Multiple Choice Debit Accounts Receivable $4100, credit Allowance for Doubtful Accounts $4300 Debit Allowance for Doubtful Accounts $4,300, credit Bed Debts Expense $4,100 Debit Bed Debts Expense $4,300, credit Allowance for Doubtful Accounts $4100 Debit Bad Debts Expense $4,300, credk Accounts Receivable $4,300 Prex 21 of 25 Next> command option

Explanation / Answer

Question No. 21 Debit Allowance for Doubtful Accounts $4,100, Credit Accounts Receivable $4,100 Question No. 22 Debit Cash $3,629; debit Credit Card Expense $171; Credit Sales $3,800 Question No. 23 Debit Accounts Receivable $945 and credit sales $945 Question No. 24 $ 3,859 (98,000*5%) -1,041

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