sheenbean8
Oct 14, 2012, 07:36 AM
Which of the following entries will affect both the balance sheet and the income statement?
A. Adjusting the allowance for doubtful accounts at year-end to the amount deemed uncollectible
B. Writing off an uncollectible account
C. Payment from a customer on account
D. None of the entries affects the balance sheet and income statement
My answer is A
A. Adjusting the allowance for doubtful accounts at year-end to the amount deemed uncollectible
B. Writing off an uncollectible account
C. Payment from a customer on account
D. None of the entries affects the balance sheet and income statement
My answer is A