21 Which of the following statements regarding the allowance method is false? Multiple Choice 00:46:00 Saved Help Save & Ex The allowance method estimates bad debts expense at the end of each accounting period and records it with an adjusting entry. The Allowance for Doubtful Accounts is a contra asset account The Allowance for Doubtful Accounts is subtracted from Accounts Receivable to report receivables at realizable value. The allowance method does not record bad debt expense until a customer's account receivable is determined to be uncollectible. The write-off for an uncollectible account does not impact the income statement. D D D