Where Llamas Live. The native habitat of llamas and guanacos is the cold and dry Andes Mountains region of South America, including parts of Argentina, Bolivia, Chile, Ecuador, and Peru. The sure-footed llamas run easily over the rugged mountaintops at elevations as high as 13,000 feet.
DEFINITION of 'Allowance For Doubtful Accounts'. A contra-asset account that records the portion of a company's receivables, which it expects may not be collected. The allowance for doubtful accounts is only an estimate of the amount of accounts receivable which are expected to not be paid.or example, the company may identify that it expects 4% of its sales to become bad debt, and thus it will adjust the allowance for doubtful accounts each quarter to ensure that this expected loss is reflected on the company's financial statements.
1. The 2013 annual report of Oracle Corporation included the following information relating to their allowance for doubtful accounts: Balance in allowance at the beginning of the year $323 million, accounts written off during the year of $145 million, balance in allowance at the end of the year $296 million. What did Oracle Corporation report as bad debt expense for the year? Answer: $ _____ $296 million â $323 million + $145 million = $118 million. 2. True or False T F 1. Accounts receivables (net) reported in the current asset section of a companyâs balance sheet represents the total amount owed by customers within the next year. T F 2.