A firm using the allowance method to provide for losses from uncollectible accounts collected the cash due from a customer whose account was previously written off. The entry to reinstate the customer's account included a credit to Allowance for Doubtful Accounts.
Added 10/21/2012 4:24:19 PM
This answer has been confirmed as correct, not copied, and helpful.
Confirmed by sujaysen
[2/27/2014 12:47:48 PM]