Answer:Worthy journal $
Date
March 14, 2022
Bad debt Dr 2600
Receivable Cr 2600
Narration. Record of receivables written off to income account on account becoming unrecoverable.
Explanation:
The direct method of written off bad debts do not make provision for estimate of receivables that are likely to go bad in which the estimate is recognised as debit to income statement and the corresponding credit entry is used to reduce the receivables, with adjustment been made at the year end for variances.
In the direct method the actual bad debts is debited in the income s statement and credited to the receivables accounts.
Answer: Dependability is defined as the quality of being able to be counted on or relied upon. When you always do everything that you say you will and never make promises you cannot keep, this is an example of dependability. YourDictionary definition and usage example.
Explanation:
Going to your designated bak
<span>when the sets are completely finished, the cost should be transferred to: </span>W<span>IP inventory-Finishing
WIP stands for work in progress, which is an account to placed all the amount of manufactured product that still not ready to be sold to the market.
Since the manufacter process is in finishing stage (coloring/packing), the appropriate account should be </span>WIP inventory-Finishing
