Halsted Inc

question 96

Multiple Choice

Halsted Inc.uses the allowance method.Previously,the company had written off the account of S.Bullock in full.Nine months later,Halsted collected $1,700,the full amount due,from S.Bullock.How would Halsted Inc.record this transaction?

• A)Debit Bad Debt Expense for $1,700 and credit Accounts Receivable-S.Bullock for $1,700.
• B)Debit Accounts Receivable-S.Bullock for $1,700 and credit Bad Debt Expense for $1,700.
• C)Debit Accounts Receivable-S.Bullock for $1,700,credit Bad Debt Expense for $1,700,debit Cash for $1,700,and credit Accounts Receivable-S.Bullock for $1,700.
• D)Debit Accounts Receivable-S.Bullock for $1,700,credit Allowance for Doubtful Accounts for $1,700,debit Cash for $1,700,and credit Accounts Receivable-S.Bullock for $1,700.
• E)Debit Cash for $1,700 and credit Accounts Receivable-S.Bullock for $1,700.

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Definitions:

Reproductive Success

The passing on of genes to the next generation in a way that they too can pass those genes on.

Female Mate Pickiness

The behavioral tendency of females to be selective in choosing partners, often based on genetic quality, resources, or compatibility.

Reproductive Success

The passing of genes onto the next generation in a way that they too can pass those genes on, effectively contributing to the genetic fitness of a species.

Biological Determinism

The belief that human behaviors, preferences, and societies are determined by genetic or hereditary factors rather than cultural or environmental influences.