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13 (5 points) Which of the following methods for accounting for uncollectible receivables isn't allowed for GAAP? Aging of receivables method Direct write-off method Percentage
13 (5 points) Which of the following methods for accounting for uncollectible receivables isn't allowed for GAAP? Aging of receivables method Direct write-off method Percentage of receivables method Sales percentage method Question 14 (5 points) Which of the following methods for writing off bad debts is considered the income statement approach? Percentage of receivables method Percentage of sales method Aging of receivable method Direct write-off method Question 15 (5 points) What is the journal entry to write off bad debt when under the allowance method? Debit bad debt expense and credit accounts receivable Debit allowance for bad debt and credit accounts receivable Debit accounts receivable and credit allowance for bad debt Question 16 (10 points) Sales Percentage of sales BD Accounts receivable AR bad debt percentage 250,000 5% 150,000 10% Allowance for BD balance 10,000 = What is the bad debt expense under the percentage of sales method? (enter number without commas or decimal places, i.e., 10000)
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