On October 29 of the current year, a company concluded that a customer's $4,400 account receivable was uncollectible and that the account should be written off. What effect will this write-off have on this company's net income and total assets assuming the allowance method is used to account for bad debts?
No effect on net income; no effect on total assets. T/F

Acompany has $80,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. experience suggests that 6% of outstanding receivables are uncollectible. the current credit balance (before adjustments) in the allowance for doubtful accounts is $1,200. the journal entry to record the adjustment to the allowance account includes a debit to bad debts expense for $4,800. true or false

1. is the act of declaring a drivers license void and terminated when it is determined that the license was issued through error or fraud.

Driving would be more pleasant if we didn't have to put up with the bad habits of other drivers. a newspaper reported the results of a valvoline oil company survey of 500 drivers in which the drivers marked their complaints about other drivers. the top complaints turned out to be tailgating, marked by 24% of the respondents; not using turn signals, marked by 19%; being cut off, marked by 15%; other drivers driving too slowly, marked by 12%; and other drivers being inconsiderate marked by 5%.