HURRY PLEASE

Question #4 (3 points) Use the FASB Codification to answer the below questions (see "FASB Codification tab on Blackboard for on-line access). The "allowance for doubtful accounts" offsets the value of accounts receivable. In this regard, it is referred to as a "contra account". It is also referred to as a "valuation account". 1. Which Concepts Statement addresses valuation accounts (provide the Concepts Statement number)? 2. What does the Concepts Statement say about valuation accounts? (a short paragraph is fine). 3. Attach two pages from the Concepts Statement supporting your answer in question 2. Question #4 (3 points) Use the FASB Codification to answer the below questions (see "FASB Codification tab on Blackboard for on-line access). The "allowance for doubtful accounts" offsets the value of accounts receivable. In this regard, it is referred to as a "contra account". It is also referred to as a "valuation account". 1. Which Concepts Statement addresses valuation accounts (provide the Concepts Statement number)? 2. What does the Concepts Statement say about valuation accounts? (a short paragraph is fine). 3. Attach two pages from the Concepts Statement supporting your answer in question 2