Question: How does the year-end adjusting entry to record estimated bad debts (uncollectible accounts) expense affect the financial statements? Multiple Choice Increase total assets and decrease

How does the year-end adjusting entry to record estimated bad debts (uncollectible accounts) expense affect the financial statements? Multiple Choice Increase total assets and decrease net income Decrease total assets and decrease net income Increase total liabilities and increase net income Increase total liabilities and increase net income

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