For a company that uses the allowance method, the write-off of an uncollectible account receivable is an asset use transaction.
Answer the following statement true (T) or false (F)
False
The write-off is an asset exchange transaction that decreases assets (accounts receivable) and increases assets (because it decreases the allowance for doubtful accounts, a contra asset account).
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a. True b. False Indicate whether the statement is true or false
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