Help,
Here is our situation:
An old sale invoice became uncollectable, our accountant made a year end adjusting journal:
1xxx: Allowance for doubtful accts: CR 10,000;
5xxx: Bad Debt Expense DR: 10,000;
But, this invoice is still in our system, still in receivable. should we write off this invoice form receivables? how to write off this invoice from receivables?
Appreciate your helps !
Judy