Lakeview Inc

question 78

Multiple Choice

Lakeview Inc.uses the allowance method.During the year,Lakeview concludes that specific customers will never pay their account balances,which total $6,844.The entry to record the write-off of these accounts receivable would debit:

• A)Accounts Receivable and credit Allowance for Doubtful Accounts for $6,844.
• B)Accounts Receivable and credit Bad Debt Expense for $6,844.
• C)Bad Debt Expense and credit Accounts Receivable for $6,844.
• D)Allowance for Doubtful Accounts and credit Accounts Receivable for $6,844.

---

Definitions:

Leadership Style

The manner and approach of providing direction, implementing plans, and motivating people.

Goals

Targets or desired outcomes that individuals, groups, or organizations aim to achieve within a specific timeframe.

Structure

The arrangement or organization of related elements in a system or entity, or the physical construction of something.

Organizational Design

The creation or arrangement of an organization's structures and processes to effectively achieve its business objectives.