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In 2016, Able Co

Question 96

Multiple Choice

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.

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