18. Allowance for Doubtful Accounts a. Is a contra asset account on the balance sheet b. Has a permanent debit balance c. Is a part of the direct method of bad debts d. Appears as other income on the income statement 14. The net realizable value of accounts receivable appears on a. The retained earnings statement b. The statement of cash flows c. The balance sheet d. The income statement 20. A business issued a $5,000, 60-day note to a supplier, which discounted the note at 12%. The proceeds are: a. $4,400 b. $4,900 c. $5,000 d. $5,100 Focus to search