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Ivanshal [37]
3 years ago
11

Leftown is a former guest who owes the Munchies Restaurant $750 for a banquet. Restaurant managers have determined that this deb

t is now uncollectible. If the restaurant uses the direct write-off method of accounting for bad debt expense, the journal entry to recognize this bad debt would be a debit to ___________ and a credit to _________________.
Business
1 answer:
shutvik [7]3 years ago
4 0

Answer:

debit: provision for doubtful accounts

credit: accounts receivable

Explanation:

Based on the information given in a situation where the restaurant make uses of the DIRECT WRITE-OFF METHOD of accounting for bad debt expense, the appropiate journal entry to recognize this bad debt would be a debit to PROVISION FOR DOUBTFUL ACCOUNTS and a credit to ACCOUNTS RECEIVABLE.

Debit Provision for doubtful accounts $750

Credit Accounts receivable $750

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