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1.Using the FASB Codification,describe the benefits and weaknesses of requiring estimates for bad debts. Also, discuss alternative methods for accounting for bad debts. Are they

1.Using the FASB Codification,describe the benefits and weaknesses of requiring estimates for bad debts. Also, discuss alternative methods for accounting for bad debts. Are they appropriate? Why or why not? Is one preferred over the other?

2.Using the FASB Codification (ASC), review the standard on revenue recognition. Discuss how you would apply this standard to the income statement of a current, past, or future job and if you think these rules need any revisions.

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