Fenchurch Corp

question 160

Multiple Choice

Fenchurch Corp.uses the direct write-off method to account for bad debts.What are the effects of the adjustment to record the write-off of a customer's account balance?

• A)Assets and liabilities decrease.
• B)Assets and stockholders' equity decrease.
• C)Stockholders' equity decrease and liabilities increase.
• D)No effect;assets increase and decrease by the same amount.

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