On January 1, 2011, Nicole Corporation changed its method of accounting for bad debts from the direct write-off method to the allowance method. The company's controller determined that an allowance of $22,000 should be established on that date.

Question

Quizplus · Accepted Answer

The Answer of On January 1, 2011, Nicole Corporation changed its method of accounting for bad debts from the direct write-off method to the allowance method. The company's controller determined that an allowance of $22,000 should be established on that date.

On January 1, 2011, Nicole Corporation Changed Its Method of Accounting