Under the allowance method of recognizing uncollectible accounts, the entry to write off an uncollectible account:
A) increases the allowance for uncollectible accounts.
B) has no effect on the allowance for uncollectible accounts
C) has no effect on net income
D) decreases net income
please explain the answer.© BrainMass Inc. brainmass.com June 3, 2020, 11:24 pm ad1c9bdddf
First, the entry to write off a customer account is:
Debit allowance for uncollectible accounts
Credit accounts receivable
In 85 words, each part of the multiple choice question is explained and the answer is given.