Question

An account receivable that has been written off against the allowance account

a. may be paid in cash and recorded as a receipt on account.
b. may be collected later.
c. may be reinstated by an entry that reverses the write-off.
d. All of these choices are correct.

Answer 1

Answer: D

Step-by-step explanation:

Total assets changes when an account is written off under the allowance method.