Simple MCQ question from Financial Accounting. Please solve it ASAP!!!

QUESTION 40 Which one of the following is not an accurate description of the Allowance for Doubtful Accounts? The amount of the Allowance for Doubtful Accounts decreases the net realizable value of a company's receivables. The account is a contra asset account The account is increased by an estimate of uncollectible accounts expense The account is a liability N {The following information applies to the questions displayed below.) Account No. (1) (2) (3) (4) (5) (6) (7) (8) Account Title Cash Service Revenue Accounts Receivable Salaries Expense Dividends Common Stock Salaries Payable Retained Earnings Which of the following is a true statement? (Note: A Statement may be true even if it does not identify all accounts that appear on that particular financial statement.) - Account numbers 1. 3. and 8 will appear on the balance sheet. Account numbers 4, 5, and 6 will appear on the statement of changes in stockholders equity. Account numbers 2, 4, and I will appear on the income statement, Account numbers 2. 5. and 8 will appear on the statement of cash flows. [The following information applies to the questions displayed below.) Account No. (2) (3) (4) (5) (6) (7) (8) Account Title Cash Service Revenue Accounts Receivable Salaries Expense Dividends Common Stock Salaries Payable Retained Earnings Which of the following is a true statement? (Note: A statement may be true even if it does not identify all accounts that have debit balances on that particular financial stateme Account numbers 4, 5, and 6 normally have debit balances. Account numbers 2.5, and 8 normally have debit balances Account numbers 2.4 and 5 normally have debit balances, Ascount numbers 1. 3. and 5 normally have debit balances Step sharing teen