Gideon Company uses the allowance method of accounting for uncollectible account

Question

Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $3,500 uncollectible account of its customer, A. Hopkins. On July 10, Gideon received a check for the full amount of $3,500 from Hopkins. The entry or entries Gideon makes to record the write off of the account on May 3 is:

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Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $3,500 uncollectible account of its customer, A. Hopkins. On July 10, Gideon received a check for the full amount of $3,500 from Hopkins. The entry or entries Gideon makes to record the write off of the account on May 3 is:

Explanation / Answer

Gideon Company uses the allowance method of accounting for uncollectible account

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