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Accounting Basics (without debits and credits)

These lessons explore the basics of accounting without debits and credits.

Lesson 10: The Provision for Uncollectible Accounts

  • Dr. Charlotte Houke
  • May 1, 2013
  • 1 min read

Description

Lesson ten teaches the importance and methods used to set aside an allowance for doubtful accounts. The allowance account helps to properly match expenses with revenues in the period and is needed to comply with GAAP. Both the analysis of receivables method and the net sales method used to account for uncollectible accounts are explained.

 
 
 

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