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If a company collects from a customer after the customer's account has been written off as uncollectible, the company is said to recover the uncollectible
If a company collects from a customer after the customer's account has been written off as uncollectible, the company is said to recover the uncollectible account. When a company uses accrual basis accounting and it recovers an uncollectible accounts the recovery O requires the company retroactively restate its prior period's income at a lower amount than originally reported. O will increase the company's income in the period it is collected. requires the company retroactively restate its prior period's income at a higher amount than originally reported. will decrease the company's income in the period it is collected. does not affect the company's income in the period it is collected
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