Homework Answers
Solution
Journal entry to record write-off of accounts
| No | Accounts title and Explanation | Debit | Credit |
| 1 | Bad debts expense | $ 1,000.00 | |
| Accounts Receivables | $ 1,000.00 | ||
| (Accounts receivables written off) |
Entry to record recovery
| No | Accounts title and Explanation | Debit | Credit |
| 1 | Accounts receivables | $ 1,000.00 | |
| Bad debts expense | $ 1,000.00 | ||
| (To reinstate accounts previously written off) | |||
| 2 | Cash | $ 1,000.00 | |
| Accounts receivables | $ 1,000.00 | ||
| (collections from receivables that were written off earlier) |
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