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  3. it blank. dec. 31 5. assuming that the adjus

it blank. Dec. 31 5. Assuming that the adjusting...

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Accounting

it blank.
Dec. 31
5. Assuming that the adjusting entry in (4) was inadvertently omitted, how would the omission affect the balance sheet and income statement?
On the balance sheet, assets would be by $ because the allowance for doubtful accounts would be by 9 In addition, the stockholders' equity (retained earnings) would be
by $ q, because bad debt expense would be q, and net income by: on the income statement.
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