... uncollectible. 19 Accounting Principles: A Business Perspective, Financial Accounting (Chapters 9 – 18) A Textbook Equity Open College Textbook originally by Hermanson, Edwards, and MaherFearless copy, ... 16amount of the year-end adjustment (except that the allowance account must have a credit balance after adjustment).For example, assume Rankin's allowance account had a USD 300 credit balance ... must be part accountant, part auditor, part lawyer, and part skilled businessperson. An undergraduate accounting degree, an MBA, and a law degree would be the perfect educational background...