Buttercup Florist uses the allowance method to account for uncollectible accounts. Unable to collect a $150 account from a customer, Buttercup determined it was uncollectible. How would the write-off of this account affect the elements of the company's financial statements? Assets=Liab.+Stk.EquityRev.?Exp.=Net Inc.Stmt of CashFlowsA.- - NANA NA NA?OAB.NA NA NANA NA NANAC.- + NANA NA NA?FAD.NA - -NA + -NA
A. Option A
B. Option B
C. Option C
D. Option D
Answer: B
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