Under the allowance method for uncollectible accounts, when a specific account is written off
A)total assets will be unchanged.
B)net profit will decrease.
C)total assets will decrease.
D)total assets will increase.

Question

Quizplus · Accepted Answer

When a specific account is written off under the allowance method, the allowance for doubtful accounts is reduced, and accounts receivable is reduced by the same amount, leaving total assets unchanged.

Under the Allowance Method for Uncollectible Accounts, When a Specific