The entry made following reinstatement of the account receivable to record the recovery is debit bad debts recovered and credit accounts receivable.
The term "accounts receivable," often known as "AR" or "A/R," refers to a company's legally enforceable claims for payment for items delivered or services provided that consumers have requested but haven't paid for.
The money that clients owe your business for goods or services for which invoices have been issued is known as accounts receivable. On the balance sheet, current assets are listed as the total amount of all accounts receivable, which includes bills from clients for goods or services provided to them on credit.
Learn more about accounts receivable here
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GDP deflator is nominal GDP divided by real GDP.
Therefore, 225/real GDP = 3, and then real GDP would then equal 75.
Answer:
Deferred Tax Expense=6300
Less: Tax Adjustment=-13000
Net Deferred Tax Benefit=6700
Deferred Tax Expense=(50000-20000)*21%
= $6300
Tax Adjustment=100000*(34%-21%)= $13000