In 2016, Able Co. wrote off a $2,000 accounts receivable from Kane Limited. In late 2017, Kane paid the full amount of the receivable. After the repayment has been recorded, the balance in
A) accounts receivable will be $2,000 higher.
B) bad debt expense will be $2,000 lower.
C) accounts receivable will be the same as before the collection was recorded.
D) allowance for doubtful accounts will be $2,000 lower.
Correct Answer:
Verified
Q91: Rocco Company uses the percentage of sales
Q92: Interest revenue is usually associated with
A) accounts
Q93: Assuming a note was written to settle
Q94: Neil Construction Co. receives a note receivable
Q95: Any interest accrued on a note receivable
A)
Q97: A company that receives an interest bearing
Q98: Which of the following does NOT affect
Q99: A promissory note
A) is not a formal
Q100: When an account is written off using
Q101: A dishonoured note receivable that is expected
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents