A company collects an account receivable previously written off. Indicate how this transaction would affect (1) assets, (2) stockholders' equity, and (3) revenues.

A company collects an account receivable previously written off. Indicate how this transaction would affect (1) assets, (2) stockholders' equity, and (3) revenues.



A) (1) Increase, (2) Increase, (3) Decrease

B) (1) Increase, (2) Increase, (3) Increase

C) (1) Increase, (2) Decrease, (3) Increase

D) (1) No effect, (2) No effect, (3) No effect


Answer: (1) No effect, (2) No effect, (3) No effect


Learn More :

Accounting

Learn More Multiple Choice Question :