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assume that a company uses the allowance method. if the company recovers an uncollectible account, what...

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Accounting

assume that a company uses the allowance method. if the companyrecovers an uncollectible account, what is the effect on (a)Accounts receivable, (b) Allowance for doubtful accounts and (c)uncollectible accounts expense? Explain in detail.

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The allowance method is a system of accounting where estimation about uncollectable receivables and bad debts is done so that the reporting of accounts receivable is done at its realizable value In other words its a method that used to estimate the amount that the cash credit customers will actually pay Under the allowance method if any accounts receivable is uncollectible then it is written off by reduction of such amount from Accounts Receivable Only balance sheet accounts are effected by suchan entry of    See Answer
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assume that a company uses the allowance method. if the companyrecovers an uncollectible account, what is the effect on (a)Accounts receivable, (b) Allowance for doubtful accounts and (c)uncollectible accounts expense? Explain in detail.

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