Humans have taste receptors on taste buds (gustatory calyculi) and other areas including the upper surface of the tongue and the epiglottis. The tongue is covered with thousands of small bumps called papillae, which are visible to the naked eye. Within each papilla are hundreds of taste buds. The exception to this is the filiform papillae that do not contain taste buds. There are between 2000 and 5000 taste buds that are located on the back and front of the tongue. Others are located on the roof, sides and back of the mouth, and in the throat.
Manilow Corporation operates in an industry that has a high rate of bad debts. Before any year-end adjustments, the balance in Manilow's Accounts Receivable account was $590,100 and the Allowance for Doubtful Accounts had a credit balance of $42,500. The year-end balance reported in the balance sheet for... show more Manilow Corporation operates in an industry that has a high rate of bad debts. Before any year-end adjustments, the balance in Manilow's Accounts Receivable account was $590,100 and the Allowance for Doubtful Accounts had a credit balance of $42,500. The year-end balance reported in the balance sheet for Allowance for Doubtful Accounts will be based on the aging schedule shown below.
Writing off bad debt. Before there can be a bad debt expense or allowance for doubtful accounts, there must be an account receivable. An account receivable is an amount that is owed to an entity, usually by one of its customers as a result of a recent sale or the ordinary extension of credit.he other account, Allowance for doubtful accounts is an asset category account, but it is also a contra asset account. Thus, this account's value is increased by a credit (the reverse of what a credit does to a normal asset account).