Question

Joyce Corp. uses the percentage-of-receivables method to account for bad debt expense. Joyce determines that a customer account of $20,000 should be written off as uncollectible. The write off of the account will include which of the following entries?

Answer 1

The Write off will include Following accounts

Allowance of Uncollected Account

and

Accounts Receivable

Step-by-step explanation:

The Entry for Write off will be as follows:

Dr. Cr.

Allowance of Uncollected Account $20,000

Accounts Receivable $20,000