Meaning of allowance For uncollectible accounts. Indicate whether each of the following accurately describes the meaning of the Allowance for Uncollectible Accounts account when properly used. If the description does not apply to this account, discuss why it does not.

a. Assets available in case customers don’t later pay what they owe.

b. Cash available in case customers don’t later pay what they owe.

c. Estimates of the amount that customers who purchased goods this period, but who have not yet paid, and won’t later pay.

d. Estimates of the amount of goods purchased by customers, whether paid or not, that the firm estimates those customers will return.

e. Estimates of the amount that customers who purchased goods at any time, but who have not yet paid and won’t later pay.

f. Estimates of amount the firm will owe to others if its customers who purchased goods this period don’t later pay what they owe.

g. Estimates of amount the firm will owe to others if its customers who ever purchased goods don’t later pay what they owe.

h. Estimates of the amount of sales for the current period that will become bad debt expense for the current period.

i. An amount of deferred revenue.

j. A part of retained earnings.