If the Allowance Method of Accounting for Doubtful Receivables Is

question 79

Multiple Choice

If the allowance method of accounting for doubtful receivables is used, what account is credited in the entry to write off a customer's account as uncollectible?

• A)allowance for doubtful accounts
• B)accounts receivable
• C)bad-debt expense
• D)sales returns and allowances

Understand the impact of using clichés and slang in multicultural and business communications.

Comprehend the structure and sequence in written communication.

Identify and revise zombie nouns in business writing for clearer communication.

Recognize the importance of conciseness in various forms of communication, including microblogging.

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Definitions:

Operating Expenses

Costs that a business incurs through its normal business operations, excluding cost of goods sold.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials, labor, and manufacturing overhead.

Loss on Disposal

The financial loss incurred when an asset is sold, discarded, or disposed of for less than its carrying value on the books.

Prior Period Adjustment

Adjustments made to a company's financial statements to correct previously made errors in those statements from earlier periods.