Multiple Choice
Which of the following is not true about the Allowance for Doubtful Accounts?
A) It is a contra asset account.
B) It is used instead of reducing accounts receivable directly.
C) It is debited when uncollectible accounts are written off.
D) It is a liability account.
E) It is credited when bad debts expense is estimated and recorded.
Correct Answer:
Verified
Correct Answer:
Verified
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