QS 7-5 Allowance method for bad debts LO P2 Gomez Corp. uses the allowance metho

Question

QS 7-5 Allowance method for bad debts LO P2 Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $1,800 account of a customer, C. Green. On March 9, it receives a $1,300 payment from Green. Prepare the journal entry for January 31 and March 9. Assume no additional money is expected from Green for March 9. View transaction list Journal entry worksheet 2 Record the write-off of Green's $1,800 account Note: Enter debits before credits. Date General Journal Debit Credit Jan 31 Record entry Clear entry View general journal

Explanation / Answer

Journal entry :

Date accounts & explanation debit credit Jan 31 Allowance for doubtful accounts 1800 Account receivable 1800 Mar 9 Account receivable 1300 Allowance for doubtful accounts 1300 Mar 9 Cash 1300 Account receivable 1300

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.