Question

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

Answer 1

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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