If an Account Is Collected After Having Been Previously Written

question 184

Multiple Choice

If an account is collected after having been previously written off

• A) the allowance account should be debited.
• B) only the control account needs to be credited.
• C) both income statement and balance sheet accounts will be affected.
• D) there will be both a debit and a credit to accounts receivable.

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Definitions:

Online Fraud

A type of scam that occurs over the internet, involving the theft of personal information or money.

Phishing

A cyber attack that uses disguised emails as a weapon to trick individuals into revealing personal information, such as passwords and credit card numbers.