Which of the Following Entries Would Be Used to Account

question 124

Multiple Choice

Which of the following entries would be used to account for uncollectable receivables using the allowance method?

• A)Bad debts expense is debited and Accounts receivable is credited.
• B)Allowance for doubtful debts is debited and Bad debts expense is credited.
• C)Bad debts expense is debited and Allowance for doubtful debts is credited.
• D)Accounts receivable is debited and Bad debts expense is credited.

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Definitions:

Parsimonious

Describes an approach that is simple or economical in terms of explaining something, often used in the context of scientific theories.

Falsifiable

Refers to a proposition or hypothesis that can be disproven through empirical evidence or experimentation.

Replicable Data

Information obtained from experiments or research that can be duplicated or reproduced by others to verify results.

Unambiguous Predictions

Clear, precise, and easily interpretable forecasts that leave little to no room for multiple interpretations or ambiguity.