In the financial statements the allowance for doubtful debt balance may be debit or credit . Do you think yes or no ?

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SREEDEVI SUNILKUMAR
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Accounting Financial Accounting US GAAP CMA

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2 Answers

Syed Kamal Mujtaba

by Syed Kamal Mujtaba , Auditor , Mashal Al Zarooni & Co. CA

Allowance for doubtful debt is a contra account of Accounts Receivables. Therefore it will be Credited

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Wasim khan wazir

by Wasim khan wazir , Finance Specialist , Mott Macdonald

Allowance should be debited.....................

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