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How each of transactions would affect statement of income

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Reference no: EM132532300

Question 1: Indicate how each of the following transactions would affect statement of income, statement of financial position, and statement of cash flows. If there would be no effect, then state that. using the allowance method of accounting for bad debts.

1. Ewrote off a receivable from a customer in the amount of $23,000.

2. Entwistle recovered a $16,000 receivable from a customer whose account had been previously written off.

3. Entwistle recorded bad debts expense for the period totalling $43,000. The amount was determined based on an aging of accounts receivable.

Reference no: EM132532300

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