This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: chapter 8 ____ 1. The type of account and normal balance of Allowance for Doubtful Accounts is a. contra asset, credit b. asset, debit c. liability, credit d. expense, debit e. expense, credit ____ 2. If the direct write-off method of accounting for uncollectible receivables is used, what general ledger account is debited to write off a customer's account as uncollectible? a. Uncollectible Accounts Payable b. Accounts Receivable c. Allowance for Doubtful Accounts d. Bad Debt Expense ____ 3. An estimate based on an analysis of receivables shows that $780 of accounts receivables are uncollectible. The Allowance for Doubtful Accounts has a debit balance of $110. After preparing the adjusting entry at the end of the year, the balance in the Allowance for Doubtful Accounts is a. $110 b. $780 c. $670 d. $890 ____ 4. Allowance for Doubtful Accounts has a credit balance of $800 at the end of the year (before adjustment), and an analysis of accounts in the customers ledger indicates doubtful accounts of $15,000. Which of the follow-an analysis of accounts in the customers ledger indicates doubtful accounts of $15,000....
View Full Document
This note was uploaded on 03/29/2010 for the course ACCT 2521 taught by Professor Everett during the Spring '10 term at East Carolina University .
- Spring '10