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    sheenbean8's Avatar
    sheenbean8 Posts: 12, Reputation: 1
    New Member
     
    #1

    Oct 14, 2012, 07:36 AM
    Quick question
    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
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
     
    #2

    Oct 14, 2012, 02:06 PM
    Both A and B

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