Which of the following reflects the effect of the year-end adjusting entry to re

Question

Which of the following reflects the effect of the year-end adjusting entry to record estimated uncollectible accounts expense using the allowance method?

Assets = Liab. + Equity Rev. Exp. = Net Inc. Cash Flow A. = NA + NA = OA B. NA = + NA + = NA C. NA = + NA + = OA D. = NA + NA + = NA The Best 1 https://newconnect.mheducation.com/flow/connect.html Quiz 2 ch 5A-B Help Save & Exit Submit 9 Which of the following reflects the effect of the year-end adjusting entry to record estimated uncollectible accounts expense using the allowance method? Assets = Liab. + | Equity | Rev. | Exp Net Inc Cash Flow NA NA -OA NA -OA NA NA NA NA NA Multiple Choice Option C 12 07 Option D Option A Option B

Explanation / Answer

Year end adjusting entry of estimated uncollectible expense :

so answer is b) Option D

Assets = Liabiltiies + equity Rev exp = net income Cash flow Effect - = NA + - NA + = - NA

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