Asked by
Destiny Jones
on Nov 12, 2024
Verified
Allowance for Doubtful Accounts is a liability account.
Allowance for Doubtful Accounts
An accounting provision made for receivables which may not be collectible.
Liability Account
An accounting record that reflects obligations or amounts owed to others, representing claims against the company's assets.
- Grasp the concept of Allowance for Doubtful Accounts and its role in adjusting entries.
Verified Answer
PC
Learning Objectives
- Grasp the concept of Allowance for Doubtful Accounts and its role in adjusting entries.
Related questions
At the End of a Period (Before Adjustment), Allowance ...
Although Allowance for Doubtful Accounts Normally Has a Credit Balance ...
The Balance in Allowance for Doubtful Accounts at the End ...
Although Allowance for Doubtful Accounts Normally Has a Credit Balance ...
At the End of a Period (Before Adjustment), Allowance for ...