Author Question: Cost flow is in the reverse order in which costs were incurred when using a. weighted average b. ... (Read 68 times)

nelaaney · **on:** Jul 5, 2018

Cost flow is in the reverse order in which costs were incurred when using
a. weighted average
b. last-in, first-out
c. first-in, first-out
d. average cost

Question 2

XYZ Company's accounting records on January 1 showed:
Accounts receivable 50,000
Allowance for uncollectible accounts (4,000)

On January 2, XYZ wrote off an account receivable of 1,000 from Bounder, Inc As a result of this write-off,

the net realizable value of XYZ's accounts receivable will ________.
A) increase
B) decrease
C) remain the same
D) The answer cannot be determined from the information given.