Business, 06.05.2020 03:30 mercydiaz84
Cambridge Co. uses the allowance method. During January 2019, Cambridge writes off a $640 customer account balance when it becomes clear that the customer will never pay. The entry to record the write-off will:
a. not affect expenses in 2019.
b. decrease net income in 2019 by $640.
c. decrease net accounts receivable by $640.
d. decrease total assets by $640.
Answers: 2
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Cambridge Co. uses the allowance method. During January 2019, Cambridge writes off a $640 customer a...
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