Question
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.
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. O bad debt expense will be $ 2,000 lower. accounts receivable will be the same as before the collection was recorded. O allowance for doubtful accounts will be $ 2,000 lower.
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
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