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Estimate of the current net realizable value

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Discussion Question:

As you know, your textbook also described two ways (1. Income statement approach and 2. Balance Sheet approach), which are the most common 2 different approaches in real world practice, in term of coming up with an amount that reflect unknown future anticipating bad debts; "allowance for bad debts", "allowance for uncollectibles". or simply a "reserve" amount to deduct from total face value of account receivables of a business holds.

Which of the two methods, in terms of estimating uncollectibles (future anticipating Bad Debts) that can provide for the best possible estimate of the current net realizable value (NRV) of the receivables?

Reference no: EM133205397

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