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Momentum Products Inc. just recorded an adjusting journal entry for the current year's estimate of...

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Question

Accounting

Momentum Products Inc. just recorded an adjusting journal entry for the current year's estimate of bad debts. Assuming all else is equal, this adjusting journal entry will cause:

Multiple Choice

  • total assets to remain unchanged.

  • net accounts receivable to increase.

  • net income to increase.

  • the accounts receivable turnover ratio to increase.

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