The "Allowance for uncollectible accounts' account will show up on which of the following financial statements? Income Statement Statement of Cash Flows Balance Sheet Statement of Stockholders' Equity Question 5 4

1. The allowance for uncollectible accounts is a contra asset account that nets against the total receivables presented on the balance sheet to reflect only the amounts expected to be paid or simply we can say that reducing the allowance for uncollectible accounts from accounts receivable is the sum that is the company expected to receive from customers.

Allowance for uncollectible accounts are therefore reported on the balance sheet only and is not charged to income statement or any other statement.

Hence, option C is the correct answer.

2. Allowance for uncollectible accounts is a contra asset account and is therefore associated with the asset account.

Hence, option E is the correct answer.

SUMMARY:

1. Balance sheet is the correct answer.

2. Asset is the correct answer.