When the Allowance Method of Recognizing Losses from Uncollectible Accounts

question 9

Multiple Choice

When the allowance method of recognizing losses from uncollectible accounts is used,the entry to record the write-off of a specific account consists of a debit to

• A) Uncollectible Accounts Expense and a credit to Accounts Receivable.
• B) Allowance for Doubtful Accounts and a credit to Accounts Receivable.
• C) Uncollectible Accounts Expense and a credit to Allowance for Doubtful Accounts.
• D) Accounts Receivable and a credit to Allowance for Doubtful Accounts.

Evaluate the effectiveness and efficiency of training programs.

Understand the importance and structure of onboarding and orientation programs.

Grasp the concept of cross-training and its potential impact on organizational flexibility and employee engagement.

Understand the importance of aligning training efforts with individual learning needs rather than solely focusing on the training topic.

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Definitions:

Adjusting Journal Entry

An accounting entry made in the books at the end of an accounting period to allocate revenues and expenses to the period in which they actually occurred.

Supplies Account

An account used to track the cost of supplies consumed by a business during an accounting period.

Supplies Expense

encompasses the cost associated with items used in daily operations, not directly tied to the production of goods or services but necessary for conducting business.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset since it was put into use, representing its reduction in value over time.