Conroy Company uses the allowance method to account for bad debts. During the year, Conroy determined that a balance of $200 from Alegia Co. was uncollectible and wrote the balance off. What is the total decrease to net income related to this entry

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hmoney2960 hmoney2960

08-03-2022
Business

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Conroy Company uses the allowance method to account for bad debts. During the year, Conroy determined that a balance of $200 from Alegia Co. was uncollectible and wrote the balance off. What is the total decrease to net income related to this entry

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Tundexi Tundexi · Answer 1 · 2022-03-22T12:44:03+01:00

Because the balance of $200 from Alegia Co. was uncollectible and wrote off, then, the total decrease to net income related to this entry will be $0

What are Uncollectible debt?

An uncollectible debt also called an accounts uncollectible refers tp receivables, loans or debts that have no chance of being paid.

In conclusion, the total decrease to net income related to this entry will be $0 as the balance of $200 from Alegia Co. was uncollectible and wrote off.