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Uncollectible Accounts, Using Direct Write-Off Method Illustrate the effects on the accounts and financial statements of the following transactions in the accounts of Valley Care
Uncollectible Accounts, Using Direct Write-Off Method Illustrate the effects on the accounts and financial statements of the following transactions in the accounts of Valley Care & Supplies Co., a local hospital supply company that uses the direct write-off method of accounting for uncollectible recelvables: If no account or activity is affected, select "No effect from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outfiows as negative amounts. March 18. Recelived $29,000 on an account. Balance Sheet Statement of Cash Assets Liabilities +Stockholders' Equity Flows Mar. 18. Statement of Cash Flows Income Statement March 18. Wrote off the remaining $49,020 owed on account as uncollectible Balance Sheet Statement of Cash Assets Liabilities Stockholders' Equity Flows Mar. 18. Statement of Cash Flows Income Statement
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