Indicate How Each Event Affects the Elements of Financial Statements $$\text { Increase } = \mathrm { I } \quad\text { Decrease } = \mathrm { D } \quad\text { No Effect } = \mathrm { N }$$

question 36

Short Answer

Indicate how each event affects the elements of financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts. $$\text { Increase } = \mathrm { I } \quad\text { Decrease } = \mathrm { D } \quad\text { No Effect } = \mathrm { N }$$
Potter Co. used the allowance method to account for uncollectible accounts expense. On June 20, 2014, Potter wrote off an uncollectible account in the amount of $8,000. Show the effect of this write-off.

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Definitions:

Macro Practice

Social work practice focused on changing larger systems within communities, organizations, or society at large, including policy advocacy and program development.

General Society

A broad term that refers to the community or public as a whole, encompassing various social structures, cultures, and institutions.

Empowerment

The process by which individuals gain control and agency over their own lives and the power to influence change in their community or organization.

Social Work

A professional field that involves providing assistance and advocating for the welfare of individuals, families, and communities, focusing on enhancing their capacity to address personal and societal problems.