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Why would have no effect on the net income

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Problem 1: On June 0 of the prior year, a company determined that a customer's A/R was uncollectible and that the account should be written off. Unexpectedly, on September 1 of the current year the customer paid the account in full. Assuming the allowance method is used to account for bad debts. Explain why this would have no effect on the Net Income and no effect on the Total assets.

Reference no: EM132808427

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