Discuss the allowance method of accounting for bad debts, Accounting Basics

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Discuss the allowance method of accounting for bad debts

Response to the following questions:

1. What is the theoretical justification for the allowance method of accounting for bad debts?

2. When bad debts are estimated, why is the balance in Allowance for Doubtful Accounts considered when the percentage of accounts receivable approach is used but not when the percentage of net credit sales approach is used?

If possible, please give examples to better understand your answers.

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Accounting Basics: Discuss the allowance method of accounting for bad debts

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Accounting Basics: Discuss the allowance method of accounting for bad debts

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