ACC CHAP 9 ENTRIES

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10 Terms

1
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sales on credit

accounts receivable debit

service revenue credit

2
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uncollectible account DIRECT WRITE OFF METHOD

bad debt expense debit

accounts receivable credit

3
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DIRECT WRITE OFF METHOD reverse a write off

accounts receivable debit

bad debt expense credit

cash debit

accounts receivable credit

4
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ALLOWANCE METHOD uncollectible accounts receivable

bad debt expense debit

allowance for bad debts credit


5
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ALLOWANCE METHOD writing off UNCOLLECTIBLE ACCOUNTS

allowance for bad debt debit

accounts receivable credit

6
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ALLOWANCE METHOD reverse write off

accounts receivable debit

allowance for bad debts credit

cash debit

accounts receivable credit

7
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PERCENT OF SALES METHOD uncollectible sales

bad debt expense debit

allowance for bad debts credit


8
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AGING OF BAD DEBT EXPENSE ENTRY

Bad debt expense debit

allowance for bad debts credit


9
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accruing interest revenue

interest receivable debit

interest revenue credit

10
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maturity date journal entry

cash debit

notes receivable credit

interest receivable credit

interest revenue credit