State the effect on net income of each of the following independent transactions. State your answer as: increase, decrease, or no effect.
$$\begin{array} { | c | c | }
\hline { \text { Transaction } } & \begin{array} { c }
\text { Effect on Net } \
\text { Income }
\end{array} \
\hline \text { 1. Prepare adjusting entry for uncollectible } & \
\text { accounts. } & \
\hline \text { 2. Write-off a customer's account. } & \
\hline \text { 3. Reinstate a customer's account and } & \
\text { collect the balance due. } & \
\hline
\end{array}$$

Question

State the effect on net income of each of the following independent transactions. State your answer as: increase, decrease, or no effect.
 $$\begin{array} { | c | c | } 
\hline { \text { Transaction } } & \begin{array} { c } 
\text { Effect on Net } \
\text { Income }
\end{array} \
\hline \text { 1. Prepare adjusting entry for uncollectible } & \
\text { accounts. } & \
\hline \text { 2. Write-off a customer's account. } & \
\hline \text { 3. Reinstate a customer's account and } & \
\text { collect the balance due. } & \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of State the effect on net income of each of the following independent transactions. State your answer as: increase, decrease, or no effect.
 $$\begin{array} { | c | c | } 
\hline { \text { Transaction } } & \begin{array} { c } 
\text { Effect on Net } \
\text { Income }
\end{array} \
\hline \text { 1. Prepare adjusting entry for uncollectible } & \
\text { accounts. } & \
\hline \text { 2. Write-off a customer's account. } & \
\hline \text { 3. Reinstate a customer's account and } & \
\text { collect the balance due. } & \
\hline
\end{array}$$

State the Effect on Net Income of Each of the Following