A Company Uses the Direct Write-Off Method

question 176

Multiple Choice

A company uses the direct write-off method.The company writes off a $3,000 customer account balance when it becomes clear that the particular customer will never pay.What is the journal entry that would be prepared to record this write-off?

• A)Debit Bad Debt Expense and credit Accounts Receivable for $3,000.
• B)Debit Allowance for Doubtful Accounts and credit Bad Debt Expense for $3,000.
• C)Debit Bad Debt Expense and credit Allowance for Doubtful Accounts for $3,000.
• D)Debit Accounts Receivable and credit Bad Debt Expense for $3,000.

Understand the implications of racial and cultural differences on standardized intelligence testing.

Recognize the importance of managing emotions in personal development.

Understand the correlation between creativity and intelligence.

Recognize the role of educational and economic factors in narrowing the IQ gap between different racial groups.

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Definitions:

Collectivist Cultures

Cultures that emphasize group over individual. The focus is on the interconnectedness of individuals, particularly the interdependent nature of their social relationships and identities.

Individualist Cultures

Cultures that emphasize the individual and value individual achievement.

Societal Role Expectations

The anticipated behaviors and responsibilities assigned to individuals based on their social position or status within a society.

Role Identities

The conceptions held by individuals about who they are in specific roles within their social networks or groups.