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The allowance for doubtful accounts is a: a) Contra-asset account b) Liability account c) Revenue account d) Expense account

The allowance for doubtful accounts is a: a) Contra-asset account b) Liability account c) Revenue account d) Expense account

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 5Q: Which account type is used to record bad debt estimation and is a contra account to Accounts...
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The allowance for doubtful account is a:

The allowance for doubtful accounts is a: a) Contra-asset account b) Liability account c) Revenue account d) Expense account
Transcribed Image Text:The allowance for doubtful accounts is a: a) Contra-asset account b) Liability account c) Revenue account d) Expense account
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