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kiruha [24]
3 years ago
12

When the direct write-off method is used, an entry for bad debt expense is required Multiple choice question. when each sale is

made. at the end of the year. only when bad debts are recorded on the tax return. when the account receivable is determined to be uncollectible.
Business
1 answer:
Lapatulllka [165]3 years ago
7 0

Answer:

When the direct write-off method is used, an entry for bad debt expense is required

when the account receivable is determined to be uncollectible.

Explanation:

The direct write-off method requires that immediately an account receivable is deemed uncollectible, the amount is debited to the bad debts expense account with the corresponding credit entry in the accounts receivable account.  The other method is the allowance method.  Unlike the direct write-off method, the allowance method involves the debit entry to made in the Allowance for Uncollectible Accounts.

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Answer:

See Below

Explanation:

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So,

Expected Value = 440(0.5) + (-110)(0.5) = 220 - 55 = $165

<u>Wager 2:</u>

Similar to wager 1

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