A company uses the allowance method to account for bad debts.What is the effect on each of the following accounts of the collection of an account previously written off? 
Definitions:
Operation Indicated
The execution of a computational or algebraic process as prescribed by mathematical or operational signs.
Collect Like Terms
A mathematical process of combining terms in an algebraic expression that have the same variables raised to the same power.
Operation Indicated
Refers to carrying out the arithmetic or mathematical operation that a particular problem or equation specifies.
Collect Like Terms
Collecting like terms is a process in algebra where terms with the same variables are summed or combined to simplify expressions.
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