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Microsoft Dynamics GP Write off an Uncollectible accounts receivable Under the allowance method, the write off...

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Accounting

Microsoft Dynamics GP Write off an Uncollectible accountsreceivable Under the allowance method, the write off of a specificaccounts receivable:

1. Decreases net income and decreases accounts receivable.

2. Decreases net income and decreases working capital.

3. Affects neither net income nor accounts receivable.

4. Affects neither net income nor working capital.

5. Increases bad debit expense and increases the allowance fordoubtful accounts.

Answer & Explanation Solved by verified expert
4.3 Ratings (761 Votes)
Under Allowance method when an specific account is written of Allowance account is debited which decreases the Allowance account balance Accounts receivables is credited which decreases the Account receivables balance However since    See Answer
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