Question
1. Describe the two basic approaches to estimating uncollectible accounts under the allowance method and the rationale for each. 2. Find an example on Edgar
1. Describe the two basic approaches to estimating uncollectible accounts under the allowance method and the rationale for each.
2. Find an example on Edgar for how a public company discloses its practice for estimating allowance for uncollectible accounts. You may choose any company, and you will find the information in a company's 10-K, "Notes to the Financial Statements," in the first disclosure note "Summary of Significant Accounting Policies." Describe how your example company estimates its allowance for uncollectible accounts.
3. Which basic approach to estimating do you think your example company is using?
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