jessenialeon0817 jessenialeon0817

20-04-2018
Business

contestada

Under the allowance method, Bad Debt Expense is recorded

A. as an estimate.
B. when an individual account is written off.
C. several times during the year as needed.
D. none of the above.

Respuesta :

Erudite1 Erudite1

20-04-2018

The correct option is A.
Under the allowance method, bad debt expense is recorded FOR AN AMOUNT WHICH THE COMPANY ESTIMATES IT WILL NOT COLLECT.
Allowance method is a method of accounting that is used to estimate the amount of uncollectibles at the end of each financial period. Uncollectibles refers to debts which the company has no hope of ever collecting them again.

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