Kiara Inc Follows the Direct Write-Off Method of Accounting for Bad

question 5

Essay

Kiara Inc. follows the direct write-off method of accounting for bad debts expense. The total revenue for the year is $600,000, but the company could collect only $580,000; the rest were uncollectible. What is the journal entry to record the accounting treatment of the bad debt expense by Kiara Inc.?

---

Definitions:

Trademark Act

Legislation that governs the registration, protection, and use of trademarks to distinguish goods or services in the market.

Common Law Tort

A Common Law Tort is a wrongful act or infringement of a right leading to civil legal liability, recognized by common law rather than statutory law.

Distinctive Design

A unique aesthetic feature or appearance of a product that sets it apart from others in the market.

Trademark Application

The formal request submitted to register a trademark with the appropriate authority, protecting branding elements like logos and names.