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In 2013, Able Co. wrote off a $2,000 accounts receivable from Kane Limited. In late 2014, Kane paid the full amount of the receivable. After
In 2013, Able Co. wrote off a $2,000 accounts receivable from Kane Limited. In late 2014, Kane paid the full amount of the receivable. After the repayment has been recorded, the balance in:
A)accounts receivable will be $2,000 higher.
B)bad debt expense will be $2,000 lower.
C)accounts receivable will be the same as before the collection was recorded.
D)allowance for doubtful accounts will be $2,000 lower.
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