The Entry to Record the Write-Off of a Specific Uncollectible

question 88

Short Answer

The entry to record the write-off of a specific uncollectible account using the allowance method includes a debit to ________.

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Definitions:

Voucher

Any document that serves as proof of authority to pay cash or issue an electronic funds transfer, but for many businesses is a special form used to record data about a liability and the details of its payment.

Cash Payment

A financial transaction involving the outflow of cash from one party to another as a form of payment.

Internal Control

Methods and protocols established by an organization to guarantee the reliability of financial and accounting data, foster responsibility, and avert deceit.

Record-Keeping Function

The process of maintaining a record of business transactions and financial activities for future reference.