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Fantom [35]
3 years ago
6

Amend Inc. debited Accounts Receivable and credited Allowance for Uncollectible Accounts to reestablish an account previously wr

itten off. Amend Inc. should also debit _______ and credit _______. Multiple choice question. Accounts Receivable; Cash Cash; Allowance for Uncollectible Accounts Cash; Accounts Receivable Allowance for Uncollectible Accounts; Cash
Business
1 answer:
goldfiish [28.3K]3 years ago
5 0

Answer:

Cash; account receivable

Explanation:

The journal entry to reestablish an account previously written off is given below:

Cash Dr XXXXX

   To account receivable XXXXX

(being the reestablish an account previously written off is recorded)

Here the cash is debited as it increased the assets and account receivable is credited as it decreased the assets

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Explanation:

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Answer:D

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Jasper makes a $31,000, 90-day, 6.5% cash loan to Clayborn Co. The amount of interest that Jasper will collect on the loan is:__
pochemuha

Answer:

the amount of interest that is collected is $503.75

Explanation:

The computation of the amount of interest that is collected is shown below:

= Cash loan × number of days ÷ total number of days × rate of interest

= $31,000 × 90 days ÷ 360 days × 6.5%

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This is the answer but the same is not provided in the given options

We simply applied the above formula so that the correct value could come

And, the same is to be considered

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