To record estimated uncollectible accounts using the allowance method, the adjusting entry would be a
A)debit to Accounts Receivable and a credit to Allowance for Doubtful Accounts.
B)debit to Bad Debt Expense and a credit to Allowance for Doubtful Accounts.
C)debit to Allowance for Doubtful Accounts and a credit to Accounts Receivable.
D)debit to Loss on Credit Sales and a credit to Accounts Receivable.

Question

Quizplus · Accepted Answer

The allowance method requires estimating uncollectible accounts and recording them by debiting Bad Debt Expense and crediting Allowance for Doubtful Accounts.

To Record Estimated Uncollectible Accounts Using the Allowance Method, the Adjusting