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In 2020,Planet Express . wrote off a $ 2,000 accounts receivable from IPS Inc. In late 2021, IPS paid the full amount of the receivable.

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In 2020,Planet Express . wrote off a \$ 2,000 accounts receivable from IPS Inc. In late 2021, IPS paid the full amount of the receivable. Before the repayment has been recorded, the balance in accounts receivable will be $2,000 higher. bad debt expense will be $2,000 lower. accounts receivable will be the same as before the collection was recorded. allowance for doubtful accounts will be \$ 2,000 lower

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