acc_290_week_2_learning_team_refle...

May 15th, 2015
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pati Chapter 8: Question 33.What are the essential features of the allowance method of accounting for bad debts? According to Kimmel, Weygandt, & Kieso (2007), the allowance method of accounting has three essential features:1.Estimated uncollectible accounts receivable are matched against revenues within the same accounting period in which they are recorded.2.Estimated uncollectibles are debited to Bad Debts Expense and credited to Allowance for Doubtful Accounts via an adjusting entry at the end of each period.3.Actual

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