At the Beginning of 2012,the Balance in Jackson Enterprises' Allowance

question 55

Multiple Choice

At the beginning of 2012,the balance in Jackson Enterprises' Allowance for Uncollectible Accounts was $31,800.During 2012,the company wrote off $38,000 of accounts receivable.Writing off the individual bad debts would include a:

• A)Debit to Bad Debt Expense.
• B)Credit to Accounts Receivable.
• C)Credit to the Allowance for Uncollectible Accounts.
• D)Both a and c.

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Definitions:

Normal Balance

The side (debit or credit) on which increases to an account are recorded, based on the type of account.

Normal Balances

Refers to the side of an account (debit or credit) where increases in the account are recorded.

Accounts

Financial records that track the transactions and balances for specific items such as assets, liabilities, equity, revenue, and expenses.

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities or equity on a company's balance sheet.