Question

Allowance for Doubtful Accounts on the balance sheet Select one: a. is deducted from accounts receivable. b. increases the cash realizable value of accounts receivable. c. appears under the heading "Other Assets." d. is offset against total current assets.

Answer 1

Allowance for Doubtful Accounts on the balance sheet: is deducted from accounts receivable.

What is a doubtful account?

This is a term that is used to refer to the account receivable that could become what is known as a bad debt later on in the future.

When people make credit purchases, the doubtful account is very important for their statement.

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