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Under the allowance method for estimating uncollectible accounts, the entry to write off an account: A) reduces total assets B) reduces net income C) has
Under the allowance method for estimating uncollectible accounts, the entry to write off an account:
A) reduces total assets
B) reduces net income
C) has no effect on total assets
D) increases net income
Why is the answers c)
I dont not understand since a write off would credit account receivable ( assets) and debit allowance of doubtful account.
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