Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, Gideon Company wrote off the $2,000 uncollectible account of its customer, A. Hopkins. On July 10, Gideon received a check for the full amount of $2,000 from Hopkins. The entry or entries Gideon makes to record the recovery of the bad debt is: Multiple Choice Account Title Credit Accounts Receivable-A. Hopkins Debit 2,000 Allowance for Doubtful Accounts 2,000 Cash 2,000 Accounts Receivable-A. Hopkins 2,000 Account Title Debit Credit Cash 2,000 Accounts Receivable-A. Hopkins 2,000 Account Title Debit Credit Accounts Receivable-A. Hopkins 2,000 Bad debts expense 2,000

Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, Gideon Company wrote off the $2,000 uncollectible account of its customer, A. Hopkins. On July 10, Gideon received a check for the full amount of $2,000 from Hopkins. The entry or entries Gideon makes to record the recovery of the bad debt is: Multiple Choice Account Title Credit Accounts Receivable-A. Hopkins Debit 2,000 Allowance for Doubtful Accounts 2,000 Cash 2,000 Accounts Receivable-A. Hopkins 2,000 Account Title Debit Credit Cash 2,000 Accounts Receivable-A. Hopkins 2,000 Account Title Debit Credit Accounts Receivable-A. Hopkins 2,000 Bad debts expense 2,000

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

ChapterB: Bad Debts

Section: Chapter Questions

Problem 3P: Nillsons Nursery uses the direct write-off method for recording bad debts. Required Journalize the...

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