Economics · Accounting Principles
How should a previously written-off irrecoverable debt, which is subsequently recovered, be recorded in the accounting books?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Debit Bank, and Credit Revenue
- 2Debit Bank, and Credit Receivables
- 3Debit Bank, and Credit Allowance for receivables
- 4Debit Bank, and Credit Irrecoverable debts expense (or Bad debts recovered account)✓
Correct answer
Debit Bank, and Credit Irrecoverable debts expense (or Bad debts recovered account)
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