Question 11 of 11 Saved! Hagenes Company uses the allowance method to account for...
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Question 11 of 11 Saved! Hagenes Company uses the allowance method to account for bad debts. During 2012, Friesen Technologies Company went bankrupt, and Hagenes Company wrote off that customer's account receivable of $16,000. Which of the following describes the effect of this write-off journal entry on the 2012 financial statements for Hagenes Company? A B C E The write-off has no effect on total assets or on total expenses Total assets will increase and total expenses will decrease Total assets will decrease and total expenses will decrease Total assets will increase and total expenses will increase Total assets will decrease and total expenses will increase
Hagenes Company uses the allowance method to account for bad debts. During 2012, Friesen Tochnologies Company went bankrupt, and Hagenes Company wrote off that customer's account receivable of $16,000. Which of the following describes the effect of this write-off journal entry on the 2012 financial statements for Hagenes Company
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