Which method requires estimating the amount of the bad debt expense and then determining the balance in the allowance for doubtful accounts which will differ from the expense if there is an unadjusted balance?.

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28-10-2022
Business

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Which method requires estimating the amount of the bad debt expense and then determining the balance in the allowance for doubtful accounts which will differ from the expense if there is an unadjusted balance?.

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shardiksh890 shardiksh890 · Answer 1 · 2022-11-02T11:17:05+01:00

The percentage of credit sales method necessitates first estimating the amount of bad debt expense and then calculating the balance in the doubtful accounts allowance.

Short-term credit arrangements, as opposed to cash payments, are documented as receivable accounts on a company's balance sheet. To calculate the credit sales percentage, divide accts receivable by sales.

The percentage of credit sales method is however known as an income statement approach since the only quantity being approximated (bad debt expense) appears on the income statement.

Find out more about the Percentage of Credit Sales Method -

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