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Home Q & A Board Other Fields Homework Help Business Accounting
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bravata bravata
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7 years ago
Ben is a customer of Haskins & Co. which uses the allowance method to account for uncollectible accounts. The company wrote off his account of $1,200 on August 15. On October 12, he sent in a payment of $560. What will Haskins & Co. record first to reinstate his account?
A) Debit Cash; credit Accounts Receivable/Ben.
B) Debit Bad Debt Expense; credit Accounts Receivable/Ben.
C) Debit Allowance for Doubtful Accounts; credit Accounts Receivable/Ben.
D) Debit Accounts Receivable/Ben; credit Allowance for Doubtful Accounts.
Textbook 
Financial Accounting

Financial Accounting


Edition: 3rd
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antonio_johnantonio_john
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Massachusetts Institute of Technology
-- Accounting

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bravata Author
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#2
7 years ago
This is a life saver
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