Welles Company Uses the Direct Write-Off Method of Accounting for Uncollectible

question 142

Essay

Welles Company uses the direct write-off method of accounting for uncollectible accounts receivable.On December 6,2013,Welles sold $6,300 of merchandise to the Fleming Company.On August 8,2014,after numerous attempts to collect the account,Welles determined that the $6,300 account of the Fleming Company was uncollectible.
a.Prepare the general journal entries required to record the transactions on August 8,2014.
b.Assuming that the $6,300 is material,explain how the direct write-off method violates the matching principle in this case.

Distinguish between monozygotic (identical) and dizygotic (fraternal) twins and their implications for genetic studies.

Recognize the significance of heredity and behavior genetics in influencing individual traits and behaviors.

Grasp the principles of epigenetics and environmental impacts on gene expression.

Identify the relationship between genetics and personality traits, including the influence of genetic similarities between individuals.