Which of the following accounts are included in the revenue process on the balance sheet?
A)Accounts receivable.
B)Sales revenue.
C)Bad debt expense.
D)Sales returns and allowances.
E)Allowance for doubtful accounts.
F)both A and E
G)both B and C

Question

Quizplus · Accepted Answer

Accounts receivable and Allowance for doubtful accounts are included in the revenue process on the balance sheet. Accounts receivable represents the money owed to the company by its customers, while Allowance for doubtful accounts is a contra-asset account that reduces the total receivables on the balance sheet to reflect the amount that is expected to be collected.

Which of the Following Accounts Are Included in the Revenue