Multiple Choice
Langley Company uses the allowance method.During January 2016,Langley writes off a $500 customer account balance when it becomes clear that the customer will never pay.The entry to record the write-off will:
A) decrease total assets by $500.
B) decrease net income for 2016 by $500.
C) decrease net accounts receivable by $500.
D) not increase the expenses for 2016.
Correct Answer:
Verified
Correct Answer:
Verified
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