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Author Question: Once an Account Receivable is written off, can a business ever collect that money? (Read 33 times)

jeatrice

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on: Feb 18, 2020
Once an Account Receivable is written off, can a business ever collect that money?
◦ No, GAAP does not allow a company to collect any amounts from a customer who has had an account written off.
◦ Only when using the allowance method can a company collect from a customer who has had an account written off.
◦ Both the allowance and direct write-off methods permit a company to collect from a customer who has had an account written off.
◦ Only when using the direct write-off method can a company collect from a customer who has had an account written off.
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
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Marked as best answer by jeatrice on Feb 18, 2020

apple

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Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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jeatrice

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Reply 2 on: Feb 18, 2020
Great answer, keep it coming :)

emsimon14

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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