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:

Drop-Forge Strokes

A term related to the drop forging process where a hammer or ram is raised and then "dropped" or driven down onto a workpiece to shape the metal by plastic deformation.

Direct Labor

Refers to wages paid to employees who directly engage in the production of goods or services, effectively contributing to the creation of the product.

Materials Requisitioned

The act of asking for and taking out items from stock for the purpose of manufacturing or utilization.

Raw Materials Issued

The total raw materials moved from inventory for use in production.