Question

Examine the following transaction: Dr. Accounts Receivable 4100 Cr. Allowance for Doubtful Accounts 4100 Dr. Cash 4100 Cr. Accounts Receivable 4100 2 points: What would be an appropriate journal entry descriptions for this transactions

Answer 1

Answer:

The appropriate journal entry descriptions for this transaction are:

Journal Entries:

Dr. Accounts Receivable 4100

Cr. Allowance for Doubtful Accounts 4100

To reverse accounts written-off as uncollectible.

Dr. Cash 4100

Cr. Accounts Receivable 4100

To record the cash receipts from the previously written-off accounts.

Explanation:

a) Data and Analysis:

Dr. Accounts Receivable 4100

Cr. Allowance for Doubtful Accounts 4100

Dr. Cash 4100

Cr. Accounts Receivable 4100