How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Bizhelp Your Own Question

Bizhelp
Bizhelp, CPA
Category: Multiple Problems
Satisfied Customers: 5726
Experience:  BA degree and Certified Public Accountant
Type Your Multiple Problems Question Here...
Bizhelp is online now
A new question is answered every 9 seconds

17) When the allowance method of recognizing losses from uncollectible

Resolved Question:

17) When the allowance method of recognizing losses from uncollectible accounts is used, the entry to record the write-off of a specific account consists of a debit to __________ and a credit to __________.


A. Uncollectible Accounts Expense; Accounts Receivable


B. Allowance for Doubtful Accounts; Accounts Receivable


C. Uncollectible Accounts Expense; Allowance for Doubtful Accounts


D. Accounts Receivable; Allowance for Doubtful Accounts



18) A firm using the allowance method to provide for losses from uncollectible accounts collected the cash due from a customer whose account was previously written off. The entry to reinstate the customer's account included a credit to:


A. Sales.


B. Accounts Receivable.


C. Uncollectible Accounts Expense.


D. Allowance for Doubtful Accounts.



19) A firm using the direct charge off method to provide for losses from uncollectible accounts collected the cash due from a customer whose account was previously written off in the same accounting period. The entry to reinstate the customer's account included a credit to:


A. Sales.


B. Accounts Receivable.


C. Uncollectible Accounts Expense.


D. Allowance for Doubtful Accounts. 



20) Common internal controls for accounts receivable include:


A. sending invoices and monthly statements.


B. developing procedures that ensure that all credit sales are recorded and customers' account are debited.


C. authorizing charge-off of accounts.


D. All of these are common internal controls for accounts receivable.
Submitted: 2 years ago.
Category: Multiple Problems
Expert:  Bizhelp replied 2 years ago.
Hi,

Thanks for the questions.

17. B. Allowance for Doubtful Accounts; Accounts Receivable
18. D. Allowance for Doubtful Accounts.
19. C. Uncollectible Accounts Expense.
20. D. All of these are common internal controls for accounts receivable.

Hope this helps!


If you would like to request me for future posts, please put 'For Bizhelp' at the beginning of them.
Bizhelp, CPA
Satisfied Customers: 5726
Experience: BA degree and Certified Public Accountant
Bizhelp and other Multiple Problems Specialists are ready to help you

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
< Last | Next >
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin Kernersville, NC
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther Woodstock, NY
  • Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know. Robin Elkton, Maryland
  • He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here. Diane Dallas, TX
 
 
 

Meet The Experts:

 
 
 
  • linda_us

    Master's Degree

    Satisfied Customers:

    1051
    Business Analyst and Solution Consultant with over 9 years of experience.
< Last | Next >
  • http://ww2.justanswer.com/uploads/LI/lindaus/2012-6-10_04811_IMG20120609164157.64x64.jpg linda_us's Avatar

    linda_us

    Master's Degree

    Satisfied Customers:

    1051
    Business Analyst and Solution Consultant with over 9 years of experience.
  • http://ww2.justanswer.com/uploads/ED/educatortech/2012-6-7_1256_williams4.64x64.jpg Mr. Gregory White's Avatar

    Mr. Gregory White

    Master's Degree

    Satisfied Customers:

    775
    M.A., M.S. Education / Educational Administration
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Doctoral Degree

    Satisfied Customers:

    565
    Lawyer, Accountant and Researcher
  • http://ww2.justanswer.com/uploads/BU/BusinessTutor/2012-2-2_115741_Kouki2.64x64.jpg Manal Elkhoshkhany's Avatar

    Manal Elkhoshkhany

    Bachelor's Degree

    Satisfied Customers:

    528
    Completed by BA degree in 1988 and graduated with a GPA of 4.0
  • http://ww2.justanswer.com/uploads/JawaadAhmed/2009-6-27_12137_SIs_SHadi.jpg F. Naz's Avatar

    F. Naz

    B.Com

    Satisfied Customers:

    384
    have completed B.Com and CA Finalist
  • http://ww2.justanswer.com/uploads/JK/jkcpa/2011-1-16_182614_jkcpa.64x64.jpg Bizhelp's Avatar

    Bizhelp

    CPA

    Satisfied Customers:

    373
    BA degree and Certified Public Accountant
  • http://ww2.justanswer.com/uploads/MY/MyVirtualCPA/2012-7-5_44024_cookmegan1.64x64.jpg MyVirtualCPA's Avatar

    MyVirtualCPA

    Master's Degree

    Satisfied Customers:

    135
    Master's degree holder who loves to help you understand your MC homework problems
 
 
 

Related Multiple Problems Questions