what is allowance for doubtful accounts
Manilow Corporation operates in an industry that has a high rate of bad debts. Before any year-end adjustments, the balance in Manilow's Accounts Receivable account was $590,100 and the Allowance for Doubtful Accounts had a credit balance of $42,500. The year-end balance reported in the balance sheet for... show more Manilow Corporation operates in an industry that has a high rate of bad debts. Before any year-end adjustments, the balance in Manilow's Accounts Receivable account was $590,100 and the Allowance for Doubtful Accounts had a credit balance of $42,500. The year-end balance reported in the balance sheet for Allowance for Doubtful Accounts will be based on the aging schedule shown below.