Entries to Write Off Accounts Receivable Quantum Solutions Company, a computer consulting firm, has decided to write off the $33,550 balance of an account owed by a customer, Alliance Inc. a. Journalize the entry to record the write-off, assuming that the direct write-off method is used.

Debit Bad debt expense $33,550

Credit Accounts receivable $33,550

(To Record writeoff of accounts receivable)

Explanation:

Direct writeoff means situation whereby the accounts receivable is written off directly to income statement instead of using the allowance account.

Since the direct writeoff method was used, we have to Debit the bad debt expense account and Credit accounts receivable. This entry would deplete the profit by $33,550 and reduce the balance in the accounts receivable.

The engineer Lee is very well trained and has a lot of experience in the planetary field, therefore it is likely that he will decide to launch the project taking into account all the implications foreseen in the project.

Explanation:

JPL spent a lot of time "Identifying, measuring, and applying risk factors against the opportunity value and cost of failure" (VMware 2013). This methodology was a key process in deciding to launch or delay the launch of MBE.

The effects of JPL and NASA's past failures as well as the risk management program Lee implemented should be paramount in making and evaluating such an important decision.

Tests and tests as well as future predictions in error tests should keep the entire team attentive to what could happen and a possible plan B in case of technical failures.