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eduard
3 years ago
8

A company collects an account receivable previously written off. Indicate how this transaction would affect:______.a. assets, st

ockholders' equity, and revenues. b. increase, increase, increase. c. increase, increase, decrease.d. increase, decrease, increase. e. no effect.
Business
1 answer:
gizmo_the_mogwai [7]3 years ago
7 0

Answer:

b. increase, increase, increase

Explanation:

When an amount previously written off is collected, the entries required to account for the collection are

Debit cash account

Credit other income account.

This will increase asset (in form of cash), increase stockholders' equity (in form of net income) and increase revenue.

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3 years ago
Consider again the price control described in the last question. Let's assume that the price control
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If it is a binding price floor, when the law is repealed, quantity demanded increases and quantity supplied decreases.

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2 years ago
____ is the process of systematically examining information assets for evidentiary material that can provide insight into how an
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The ________ finances the export activities of companies in the United States and offers insurance on foreign accounts receivabl
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<h3>Export-Import Bank</h3>
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