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Allowance of Doubtful Accounts Journal Entry

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question 1 of 3

Select the preferred method of accounting for doubtful accounts.

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1. Identify the answer that is NOT a potential tool in analyzing the adequacy of the allowance for doubtful accounts.

2. Identify an accounting principle the direct write-off method usually violates.

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About This Quiz & Worksheet

See what you know about the allowance of doubtful accounts journal with this worksheet/quiz. Topics include the main accounting method of doubtful accounts and the various tools for analyzing the allowance for these types of accounts.

Quiz & Worksheet Goals

Answer questions on these key points:

  • Principle of accounting violated by a direct write-off method
  • Type of general ledger account for a doubtful account
  • Provision in accounting

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the related lesson on quotes about the allowance of doubtful accounts
  • Information recall - access the knowledge you've gained regarding analyzing tools associated with the allowance for doubtful accounts
  • Knowledge application - use your knowledge to answer questions about what provision means in accounting and a doubtful account's preferred method

Additional Learning

Study the subject further with the lesson named Allowance of Doubtful Accounts Journal Entry. You'll be covering the following key study points:

  • The direct write-off method of accounting
  • Required method of accounting under GAAP
  • Percentage of sales used to determine the provision for doubtful accounts
  • The percentage of outstanding receivables
  • Receivables aging report and how it's used
  • Write-offs and recoveries examples
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