If an account is collected after having been previously written off
A) the allowance account should be debited.
B) only the control account needs to be credited.
C) both income statement and balance sheet accounts will be affected.
D) there will be both a debit and a credit to accounts receivable.

Question

Quizplus · Accepted Answer

When an account previously written off is collected, the accounts receivable is debited to reinstate the account and credited to record the collection, affecting only balance sheet accounts.

If an Account Is Collected After Having Been Previously Written