The allowance account (indirect method) is reported in which financial sheet? How about the direct method (loss account)?
Answer:
- allowance account (indirect method) = balance sheet.
- direct method (loss acct) = income statement.
The allowance account (indirect method) is reported in which financial sheet? How about the direct method (loss account)?
Answer:
- allowance account (indirect method) = balance sheet.
- direct method (loss acct) = income statement.
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.