An account that had been previously written-off as un collectible was recovered. How would the recovery affect the company's accounting equation-----Have no effect on assets, liabilities or equity.
The accounting equation, also referred to as the basic accounting equation or balance sheet equation, may be a statement that a company's total asset is the sum of its liability and its shareholder's equity.
Why is accounting equation important?
One of the most benefits of using the accounting equation is the fact that it provides an easy way to verify the accuracy of your bookkeeping. It also helps measure the profitability of your business
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