Allowance for Doubtful Accounts is a(n) account. D Question 18 Allowance for Doubtful Accounts appears on which financial statement? On July 1, 2019, a company purchases equipment for $40,000. The company uses the straight-line depreciation method and estimates that the equipment will have a useful life of four years and a salvage value of $5,000. The company's annual accounting period ends on December 31. In the adjusting entry on December 31, 2019, the company will: Allowance for Doubtful Accounts is a(n) _ _account. liability O contra equity O contra asset O contra revenue Question 18 5 pts Allowance for Doubtful Accounts appears on which financial statement? O Balance sheet Statement of owner's equity Statement of cash flows Income statement On July 1, 2019, a company purchases equipment for $40,000. The company uses the straight-line depreciation method and estimates that the equipment will have a useful life of four years and a salvage value of $5,000. The company's annual accounting period ends on December 31. In the adjusting entry on December 31, 2019, the company will: Debit Depreciation Expense $4,375; credit Accumulated Depreciation $4,375 Debit Depreciation Expense $4,375;credit Equipment $4,375 Debit Equipment Expense $8,750; credit Accumulated Depreciation $8,750 Debit Depreciation Expense $8,750; credit Accumulated Depreciation $8,750