Allowance for Doubtful Accounts is reported in which financial statement?
A)Statement of owner's equity
B)Income statement
C)Balance Sheet
D)None of these answers is correct.

Question

Quizplus · Accepted Answer

Allowance for Doubtful Accounts is a contra-asset account that represents the estimated amount of accounts receivable that may not be collected. It is reported on the balance sheet as a deduction from accounts receivable.

Allowance for Doubtful Accounts Is Reported in Which Financial Statement