Choose the correct statement(s) below regarding the diti a wi uthif me iod for calculating credit loss expense. 1. it is not normally consistent with GAAP and accrual accounting. II. Its use tends to result in an overstatement of accounts receivable on the balance stieet. III. Under this method, credit loss expense is recognized when a specific account is determined to be uncollectible. Mutipie. Choice III dnsy. I and tirs only. II only 1. 11 and 111