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On May 15, Baxtor, Inc. sold $26,000 of merchandise to James, on account. Baxtor could...

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Question

Accounting

On May 15, Baxtor, Inc. sold $26,000 of merchandise to James, on account. Baxtor could not collect cash from James and wrote off the account. What is the journal entry to record the

writeoff,

assuming Baxtor uses the allowance method?

A.

Allowance for Bad Debts

26,000
Accounts

ReceivableJames

26,000

B.

Accounts

ReceivableJames

26,000

Bad Debts Expense

26,000

C.

Bad Debts Expense

26,000
Accounts

ReceivableJames

26,000

D.

Accounts

ReceivableJames

26,000

Allowance for Bad Debts

26,000

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