At a recent board of directors meeting of Bismark Corp., one of the directors expressed concern over the allowance for uncollectible accounts appearing in the company's balance sheet. ldon' t understand this account," he said. Why don't we just show accounts receivable at the amount owed to us and get rid of that allowance? Respond to the director s question; include in your response? (a) an explanation of why the company has an allowance account (c) how accrual accounting (as opposed to the cash-basis accounting) affects the presentation of accounts receivable