You are reviewing the unpaid invoices that are listed on your accounts receivable report. And there is an unpaid invoice, dated March 31, 2019, that includes sales tax. The books have been closed as of May 31, 2019, and they are accrual basis. You have discussed the unpaid invoice with the client, and it was decided that the invoice should be written off as a bad debt. Auto Apply Credits has been left switched on within your company settings.
Which entries should you make to remove the customer balance from the Accounts Receivable reports?
A) Use the "Write Off Invoices" option from within the Accountant Toolbox. The write-off must be dated on or after June 1, 2018.
B) Open the invoice, and use the Void option from within "More." The invoice will remain visible, but with zero value. Add details in the description as to why the invoice was voided.
C) Open the invoice, and use the Delete option from within "More."
D) Create a journal entry to debit Bad Debts and to credit Accounts Receivable using the customer name. Check the customer transaction to ensure the journal entry has been correctly applied to the invoice.
E) Create a credit memo against the customer and code accordingly. Check that the credit memo has been applied to the invoice.
Answers: 3
Business, 22.06.2019 17:30
According to management education expert ashok rao, companies can increase their profitability by through careful inventory management. a. 5% to 10% b. 10% to 25% c. 20% to 50% d. 75%
Answers: 1
Business, 22.06.2019 20:50
Which of the following statements regarding the southern economy at the end of the nineteenth century is accurate? the south was producing as much cotton as it had before the civil war.
Answers: 3
Business, 22.06.2019 21:20
Which of the following best explains how trade enables greater specialization among producers? a. trade diversifies the market by bringing specialized goods from around the world. b. trade requires distribution networks and adds one more step to the production process. c. trade enables producers to open up new markets for their goods and services. d. trade allows people to focus on one kind of production and trade for their other needs.
Answers: 1
You are reviewing the unpaid invoices that are listed on your accounts receivable report. And there...
Mathematics, 23.10.2019 11:00
English, 23.10.2019 11:00
Mathematics, 23.10.2019 11:00
Physics, 23.10.2019 11:00
English, 23.10.2019 11:00
Mathematics, 23.10.2019 11:00
Health, 23.10.2019 11:00
Biology, 23.10.2019 11:00
English, 23.10.2019 11:00
Mathematics, 23.10.2019 11:00
Health, 23.10.2019 11:00