Economics · Accounting - Bad Debts
Georgie is preparing the general ledger journal entry to write off an irrecoverable debt. Georgie knows that the debit entry should be made in the receivables expense account and temporarily posted the credit entry to a suspense account. Into which general ledger account should Georgie have posted the credit entry to complete the transaction correctly?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Receivables allowance account
- 2Receivables account✓
- 3Bank account
- 4Sales account
Correct answer
Receivables account
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