Pittsburgh Tours collected $190 on an account that had been directly written off the previous year. The journal entry to record the transaction would include:
A) a debit to Allowance for Doubtful Accounts.
B) a credit to Bad Debts Recovered.
C) a debit to Bad Debts Recovered.
D) a credit to Bad Debts Expense.
Answer: B
You might also like to view...
The horse isn't crazy about it, but occasionally will relent and pull a cart laden with supplies from the barn to the other points of mutual interest, the grassy area, the pond, and the hay down in the run in shed
What is the shortest distance from the barn to each of these points?
In regard to the cultural risks related to intellectual property rights, which of the statements below is FALSE?
A) Property rights, in general, refer to the right of an individual to use his or her talents and properties (assets) for company gain. B) Intellectual property rights refer to the product or service that is created by the talents of an individual. C) The exclusive use of a specific technological advantage may be lost because local governments do not respect or honor copyright or patent laws. D) Intellectual property rights are established through patents and copyrights in order to protect the goods and services of the original developer and the revenues pertaining to them.