In January 2012, the company writes off a $500 account which it determines is uncollectible. Which of the following is true?
A) The write-off will decrease the current assets by $500.
B) The write-off will decrease net income for 2012 by $100.
C) The write-off will decrease net accounts receivable by $100.
D) The write-off will not increase the expenses for 2012.
Correct Answer:
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