The Journal Entry to Record the Recovery of a Previously

question 88

Multiple Choice

The journal entry to record the recovery of a previously written-off $2,000 account receivable (for customer Leno Company) under the allowance method would include:

• A)a credit to Bad Debt Expense.
• B)a credit to Cash.
• C)a debit to Accounts Payable - Leno Company.
• D)a credit to Allowance for Doubtful Accounts.

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Definitions:

Real-World Organisations

Entities operating in society that perform functions or provide services, including businesses, government agencies, non-profits, and other structured groups.

Psychological Benefits

Refers to the positive effects on a person's mental health and well-being that result from certain activities, therapies, or situations.

Leader-Member Exchange Theory

A theory focusing on the two-way relationship (dyadic relationships) between leaders and followers, emphasizing the mutual benefits derived from high-quality exchanges.

Material Benefits

Tangible rewards or advantages gained from being a member of a social group or society.