3031

Which of the following statements is true regarding the allowance method? Awrite-off at an uncollectible account decreases tetained camnings It is not accepted under GAAP An estimate of bad debt expense is made at the end of the accounting period Ot violates the matching concept D Question 31 3.13 pts On June 10, a $5.000 account receivable from a customer has been determined to be uncollectible. Using the allowance method, what effect would the write off of the account have on the financial statements? Total assets would not change Total assets and stockholders' equity would decrease Total assets and stockholders' equity would increase No accounts would be affected V