To Record Receipt of Money After an Account Has Been

question 11

Multiple Choice

To record receipt of money after an account has been written off in the previous year, using the direct method you would need to:

• A) credit Sales.
• B) debit the allowance account.
• C) credit Bad Debts Recovered.
• D) debit cash.

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Definitions:

Ribose

A five-carbon sugar that is a key component of RNA (ribonucleic acid) and essential for various biological processes.

RNA

Ribonucleic acid, a nucleic acid present in all living cells that acts as a messenger carrying instructions from DNA for controlling the synthesis of proteins.

Structural Component

An element or part of a larger structure, which contributes to its build and integrity.

Carbohydrates

Organic compounds, consisting of carbon, hydrogen, and oxygen, that serve as a major energy source for the body; includes sugars, starches, and fibers.