Getting comprehensive control over your papers at any time is essential to relieve your everyday duties and enhance your productivity. Accomplish any objective with DocHub tools for document management and practical PDF editing. Gain access, change and save and incorporate your workflows along with other safe cloud storage services.
DocHub gives you lossless editing, the chance to work with any format, and securely eSign papers without having searching for a third-party eSignature option. Make the most of the file managing solutions in one place. Try out all DocHub functions right now with the free account.
in this video were going to talk about what journal entries to make when your firm collects an accounts receivable that was already written off that was already deemed uncollectible and how you would go about reversing that so lets take an example lets say that your firm is a clothing store and you extend credit your firm extends credit to creditworthy customers someone buys a dress but then they dont pay $50 right they owed you $50 for this dress they dont pay so then its thats uncollectible lets say they went bankrupt so they go they go bankrupt and what journal entry are we gonna make for this does non payment of $50 well were gonna debit allowance for doubtful accounts allowance for doubtful accounts and why are a debit is going to decrease allowance for doubtful accounts and why are we debiting this why are we decreasing it well because allowance for doubtful accounts was an estimate and were no longer it were passed the estimate stage this person went bankrupt they did