The Allowance for Doubtful Accounts T-account will have the ______ on the credit side. Multiple choice question. sales discounts and allowances write-offs of specific customers sales on account estimated bad debts from the adjusting entry

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05-07-2022
Business

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The Allowance for Doubtful Accounts T-account will have the ______ on the credit side. Multiple choice question. sales discounts and allowances write-offs of specific customers sales on account estimated bad debts from the adjusting entry

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tripatsingh039 tripatsingh039 · Answer 1 · 2022-07-17T18:05:01-04:00

The Allowance for Doubtful Accounts T-account will have the estimated bad debts from the adjusting entry sales discounts .

Doubtful account

An allowance for doubtful accounts is considered a “contra asset,” because it reduces the amount of an asset, in this case the accounts receivable. The allowance, sometimes called a bad debt reserve, represents management's estimate of the amount of accounts receivable that will not be paid by customers.

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