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Question

Secure https .com/Student/Player Test.aspx?testid 152311536&centerwinayes; ACCT 2013 14W Spring 2017 Test: Final Exam Time Remaining: 01:46:20 Submit Test This Question: 1 pt 3 of 48 complete) This Test: 48 pts possible Question Help Customer A. Smith owed Stonebridge Electronics $325. On April 27, 2016, Stonebridge determined this account receivable to be uncollectible and wrote off the account. The company uses the direct write-off method. On July 15, 2016, Stonebridge received a check for $325 from the customer. How should the July 15, 2016 transaction be recorded O A. July 15 Cash Bad Debt Expense O B. July 15 Cash Accounts Receivable A Smith 325 325 O c. July 15 Accounts Receivable A. Smith 325 Bad Debt Expense July 15 Cash Accounts Receivable A. Smith O D. July 15 Accounts Receivable A. Smith Bad Debt Revenue 325 July 15 Cash 325 Accounts Receivable A. Smith Click to select your answer.

Explanation / Answer

Option C will be the answer as the money will now flow from bad debt expense account to accounts receivable account. Thus, option C

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