Assuming that ABC Company's accounts receivable is $1,000,000 and its allowance for a doubtful account has a balance of $10,000 and was informed that one of its customer just filed for bankruptcy. How should the ABC Company's write off this customer's account for $40,000? Allowance for doubtful account $40,000 OA Bad debt expense $40,000 Bad debt expense $40,000 OB. Allowance for doubtful account $40,000 Cash $40,000 OC. Allowance for doubtful account $40,000 Allowance for Doubtful Account $40,000 OD. Accounts Receivable $40,000 QUESTION 5 Click Save and Submit to save and submit. Click Save All Answers to save all answers. O F2 F3 F4 F5 F6 F7 FB F10 40 144 114 0 QUESTION 5 When a company reports net income and then pays a portion of that net income among its shareholders, what do we call the remaining part of that net income? O A. Dividend OB. Retained earnings O C. Capital OD. Preferred stocks QUESTION 6 Which of the following is an asset? OA. Fixed Assets OB. Current Assets OC. Investments D.All of the above