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Question #5: If an account is collected after having been previously written off, the allowance account should be debited. only the control account needs to
Question #5: If an account is collected after having been previously written off,
the allowance account should be debited. | ||
only the control account needs to be credited. | ||
both income statement and balance sheet accounts will be affected. | ||
there will be both a debit and a credit to accounts receivable. |
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