The adjusting entry to estimate future bad debts includes a

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Reference no: EM131025017

1. Suppose a company uses the direct write-off method instead of the allowance method in accounting for uncollectible accounts. What is the impact on the accounting equation of an actual bad debt?

A) No effect
B) Decrease assets
C) Decrease revenues
D) Decrease liabilities
E) Increase liabilities

2. The adjusting entry to estimate future bad debts includes a:

A) Debit to Sales Revenue
B) Debit to Accounts Receivable
C) Credit to Allowance for Uncollectible Accounts
D) Credit to Accounts Receivable
E) Two of the above are correct

Reference no: EM131025017

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