Accounting Notes- Day 14

Accounting Notes- Day 14 - is a normal balance Contra asset...

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ACCOUNTING 2000 10/12 Example: 9/12 A/R- Smith $100 Service Revenue $100 9/14 A/R- Jones $200 Service Revenue $200 9/28 A/R- Carr $1000 Service Revenue $1000 9/30 A/R- M. Poster $500 Service Revenue $500 Estimate $400 will not be collected  9/30 Bad Debt Expense $400 Allowance for Doubtful Account $400 CLICKER: What type of account is allowance for doubtful account and what 
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Unformatted text preview: is a normal balance? Contra asset, credit Account Receivable- Allowance for D/A= Net Realizable Value CLICKER: Using the allowance method, when is the bad debt expense recorded? When uncollectibles are estimated *LOOK AT THE SLIDES ON MOODLE*...
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This note was uploaded on 01/19/2012 for the course ACCT 2000 taught by Professor Holmes during the Fall '08 term at LSU.

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