Under the allowance method, when a specific account is written off, then the allowance account is debited and the accounts receivable account is credited.
What is Accounting?
This refers to the management and processing of financial records about economic entities in a well-documented form.
Hence, we can note that in accounting, under the allowance method, once a specific account is written off, then the allowance account is debited and the accounts receivable account is credited.
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