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Which entry to record the writeoff of specific uncollectible

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problem 1: An entity uses the allowance method for recognizing doubtful accounts. The entry to record the writeoff of a specific uncollectible account

a. Affects neither net income nor working capital

b. Affects neither net income nor accounts receivable

c. Decreases both net income and working capital

d. Decreases both net income and accounts receivable

problem 2: When the allowance method of recognizing bad debts expense is used ,the entries at the time of collection of an account previously written off would

a. Decrease the allowance for doubtful accounts

b. Increase net income

c. Have no effect on the allowance for doubtful accounts

d. Have no effect on net income

Reference no: EM132813395

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