Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Finance & Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=411)
-   -   What is the type of account and normal balance of allowance for doubtful accounts? (https://www.askmehelpdesk.com/showthread.php?t=618291)

  • Dec 9, 2011, 01:03 PM
    mroberge
    What is the type of account and normal balance of allowance for doubtful accounts?
    Would it be conta asset, debit
  • Dec 9, 2011, 01:41 PM
    pready
    It is a contra asset account and would have a normal Credit balance.
  • Dec 9, 2011, 01:49 PM
    mroberge
    To record estimated uncollectedable receivables using the allowance method, the adjusting entry would be?

    Is the answer debit to allowance for doughtful account and a credi ti a/r?
  • Dec 9, 2011, 01:51 PM
    mroberge
    To record estimated uncollectable receivable using the allowance method. The adjusting entry would be?

    Is the answer a debit to allowance for doubtful acct and a credit to A/R

    • All times are GMT -7. The time now is 11:59 AM.