The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted accounting principles. Required:

Question:

The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted accounting principles.

Required:
1. Obtain the relevant authoritative literature on accounting for using the FASB's Codification Research System at the FASB website (www.fasb.org). What is the specific citation that describes disclosure of accounting policies for credit losses and doubtful accounts?
2. List the disclosure requirements.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...