Humans have taste receptors on taste buds (gustatory calyculi) and other areas including the upper surface of the tongue and the epiglottis. The tongue is covered with thousands of small bumps called papillae, which are visible to the naked eye. Within each papilla are hundreds of taste buds. The exception to this is the filiform papillae that do not contain taste buds. There are between 2000 and 5000 taste buds that are located on the back and front of the tongue. Others are located on the roof, sides and back of the mouth, and in the throat.
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.
4. Adjust the balance of the allowance account as necessary. If the company above records another $10,000 in service revenue, another journal entry is needed to increase the allowance account. The company debits Bad Debts Expense for $200 and credits Allowance for Doubtful Accounts for $200.ccounting for doubtful debts presupposes credit sales, so begin by recording the sale in the general journal. For example, consider a company that renders $2000 of services to a customer on credit. To record the journal entry, the company debits Accounts Receivable for $2000 and credits Service Revenue for $2000.