Answer:
The journal entry to write off an uncollectible account receivable decreases operating income.
Explanation:
Accounts receivable is the amount that debtors owe a business and is collectible at a particular time in the future. If however the debtor is unable to make payment, the amount owed is written of.
The journal entry to record the write-off involves a debit to accounts recievable and reduces allowance for uncollectible account balances.
This does not affect the operating income of the business.
People of a low income/ lower class
Answer:
1. $20,000.
Explanation:
unrealized holding loss = Aggregate cost - Aggregate fair value
= 180,000 - 160,000
= ($20,000) Loss
Therefore, The amount that Valet should report in its 2018 income statement for unrealized holding loss is $20,000.