Which of the following answers correctly states the effect of recording the reestablishment of the receivable on April 4, 2013?
A)Option A
B)Option B
C)Option C
D)Option D

Question

Which of the following answers correctly states the effect of recording the reestablishment of the receivable on April 4, 2013? 
A)Option A 
B)Option B 
C)Option C 
D)Option D

Quizplus · Accepted Answer

Reestablishing the receivable increases assets (accounts receivable) and decreases assets (increase to allowance for doubtful accounts), resulting in no net effect to assets.

Which of the Following Answers Correctly States the Effect of Recording