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1 April, 18:47

On October 29 of the current year, a company concluded that a customer's $4,400 account receivable was uncollectible and that the account should be written off. What effect will this write-off have on this company's net income and total assets assuming the allowance method is used to account for bad debts?

No effect on net income; no effect on total assets. T/F

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  1. 1 April, 19:15
    0
    The answer is true

    Explanation:

    There will no effect on net income; no effect on total assets because an allowance method is used which means there was a provision for bad debts already effected.
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