Irrecoverable Debts and Allowance Example 3

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November 12, 2023 at 1:36 pm #694709
nomid
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Hello,

In example 3, why was Mick’s 3000 owing not entered as Dr Irrecoverable Debts Expense Account and Cr Allowance for Receivable account?

Thank you in advance
November 13, 2023 at 3:38 pm #694767
John Moffat
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You could do that but you would arrive at exactly the same end result. The way I explain in the lecture is the quickest and safest way to deal with it.
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