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Caviler company determines that it cannot collect a total of $500 from a customer. Using the allowance method, the journal entry to write off the amount would be?

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arshikhan8123

The journal entry to write off the amount would be,

Debit: Allowance for Bad Debts $300.

Credit: A/R $300.

Journal access is an act of keeping or making information of any transactions both economic or non-financial. Transactions are indexed in an accounting journal that indicates an organization's debit and credit score balances. The magazine entry can consist of numerous recordings, each of that's both a debit or a credit score.

A journal entry is a record of the commercial enterprise transactions within the accounting books of a commercial enterprise. A well-documented magazine entry consists of the suitable date, amounts to be debited and credited, an outline of the transaction, and a completely unique reference number.

A credit score entry is used to decrease the value of an asset or growth the value of a liability. In other phrases, any advantage-giving component or outgoing issue must be credited in books of money owed. The credits are entered on the proper side of the ledger debts.

Learn more about journal entries here: https://brainly.com/question/14279491

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