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One small paragraphAPA formatted online reference Is it necessary to budget for the allowance for doubtful accounts in a nonprofit budget? Is so, why?

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One small paragraphAPA formatted online reference

Is it necessary to budget for the allowance for doubtful accounts in a nonprofit budget? Is so, why?

Answered Same Day Dec 23, 2021

Solution

Robert answered on Dec 23 2021
125 Votes
When a company chooses to write off Account receivables assuming it as a bad debt, it
makes a Bad debt expense which will result into creation of an entry in a balance sheet account
as Allowance for doubtful accounts which will be shown either in liabilities or on asset side as a
deduction...
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