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Sorry to bother you, but ive got another question
Jupiter Co has been notified that a customer has been declared bankrupt. The company had previously included this customers’ balance within the allowance for receivables in a previous period.Which of the following is the correct double entry to account for this new information?
this one is from BPP textbook
and now its says that the correct double entry is Dr Allowance and Cr Receivables
is it a mistake or what?
Kaplan says the answer is Dr Irrecoverable Expense and Cr ReceivablesFollowing a mid-year review of its aged receivables’ listing, Pluto Co identified three
irrecoverable debts totalling $630 which should be written off. One of the debts, for $150,
was already included in the allowance for receivables.
What accounting entries should Pluto Co make to write off the irrecoverable debts?
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