Entries to Write Off Accounts Receivable Quantum Solutions C

Entries to Write Off Accounts Receivable Quantum Solutions Company, a computer consulting firm, has decided to write off the $33,550 balance of an account owed by a customer, Alliance Inc a. Journalize the entry to record the write-off, assuming that the direct write-off method is used. Bad Debt Expense Accounts Receivable-Alliance Inc. Feedback b. Journalize the entry to record the write-off, assuming that the allowance method is used Allowance for Doubtful Accounts Accounts Receivable-Alliance Inc. Feedback Feedback

Solution

Answer

no	particulars	debit	credit
a	bad debit expences	33550
	TO account receviable alliances		33550
	being bad debit written off
b	allowances of doubtfull debit	33550
	To account recivable alliance		33550
	being allowance account adjusted aganist bad debit of alliance