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You do the bookkeeping for Amir's Automotive. Amir has decided to write off the most aged 1% of the Accounts Receivable. The total accounts
You do the bookkeeping for Amir's Automotive. Amir has decided to write off the most aged 1% of the Accounts Receivable. The total accounts receivable is $12,000. In order to write off the receivables as uncollectible, what will you do to the Accounts Receivable account? A Credit it for the oldest invoice of $90. B Debit it for the invoices over 120 days old. C Debit it for $120. D Credit it for $120.
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