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Barnes Books allows for possible bad debts. On May 7, Barnes writes off a customer account of $10,600. On September 9, the customer unexpectedly pays the $10,600 balance. Record the cash collection on September 9

Sagot :

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Answer:

1. Debit Accounts recievable $10,600

Credit Allowance for uncollectable amounts $10,600.

2. Debit Cash $10,600

Credit Accounts receivable $10,600

Explanation:

Preparation of the journal entries to Record the cash collection on September 9.

Based on the information given the appropriate journal entries to Record the cash collection on September 9 will be:

September 9

1. Debit Accounts recievable $10,600

Credit Allowance for uncollectable amounts $10,600

2. Debit Cash $10,600

Credit Accounts receivable $10,600

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