Which of the following is not true about the allowance for doubtful accounts? It is used instead of reducing accounts receivable directly, it is a liability account, it is a contra asset account, it is credited when bad debts expense is estimated and recorded, or it is debited when uncollectible accounts are written off

what is not true about Allowance for doubtful accounts is that It is a liability account

Explanation:

Allowance for doubtful accounts is a contra-asset account that shows only amounts expected to be paid by negating the total receivables recorded on the balance sheet.

The allowance for doubtful accounts is credited when bad debts expenses are recorded and debited when uncollectible accounts are written off.

In summary, Allowance for doubtful accounts estimates the amount of accounts receivable expected but will not be paid by customers.

b. condominum i think

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%