Allowance for Doubtful Accounts is
A. closed at the end of the fiscal year.
B. an operating expense.
C. a contra asset account.
D. added to Accounts Receivable on the balance sheet.
Answer: C
Allowance for Doubtful Accounts is
A. closed at the end of the fiscal year.
B. an operating expense.
C. a contra asset account.
D. added to Accounts Receivable on the balance sheet.
Answer: C