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This year, your company estimates that $18,000 of A/R will be uncollectible. The Allowance for Doubtful Accounts has a credit balance of $5,000. If no

This year, your company estimates that $18,000 of A/R will be uncollectible. The Allowance for Doubtful Accounts has a credit balance of $5,000. If no adjusting journal entry is recorded, how will the financial statements be affected? Net income Assets a. overstated overstated b. overstated understated c. understated overstated d. understated understated

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